Thursday, October 1, 2009

SPX shorts working well, market acts as expected

Well the market did exactly what I thought it would today, per yesterday's post. That's why I elected for a second early short position that I took yesterday.

Today's spx close sealed it. We have an official short term trend change to downtrend. It meets the criteria: spx broke the uptrend support, it made a lower high, and today it made a lower low.

Horizontal support and resistance levels for SPX shown in chart below.




* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".

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