Feb 28, 2011 S&P 500 closed today at 1327.22 which is just above its two and half years high. S&P closed above its 10, 21, 50 and 200 days EMA and giving us a strong bull signal.
With US unemployment rate (Seasonally Adjusted) remains at 9.0% in Jan 2010 and declining home prices, double dip is inevitable for US in the long term. Fed can not keep the rate low for a long time. When they start increasing the rate, home prices will go down further and it would trigger a new wave of foreclosures.
Let's look the S&P technical levels. S&P 500 is trading well above its 200 days moving average of 1210.81 and above its 50 days EMA of 1289.87. It gives a (wrong) bull signal on S&P 500 to go long.
However it would be perfect time to....
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