Mar 16, 2011 S&P 500 closed today at 1256.88 which is down by 5.30% from month to date that is compared to close of Feb 28, 2011 - 1327.22
As expected per my earlier update, SP 500 closed today well below its 50 days moving average of 1294.66 but above its 200 days EMA of 1210.29.
Let's look the S&P technical levels. S&P will eventually go down and test 200 days EMA of 1210, before making a significant rally.
If S&P 500 touches its 200 days EMA of 1210.20, day traders can take long positions with protective put option or with stop loss...
Please visit http://www.softwareandfinance.com and click on the topic "S&P 500 Mar 2011 Technical Forecast - Update 2" under Stocks posting to read the entire article.
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