Tuesday, February 23, 2010


The general market as well as most sectors are caught between MAs. For the SPX, it's the 50/100-day. For the XLV ,it's the 20/50-day. For the XLU, it's the 20/100-day. They are all different. I expect more chopping today as the market continues to test the 50-day MA. On the 2-mo/60-min SPX chart, it's clear that we are back inside the neutral range that was created from December. Look for breaks above the 50-day or below 1102. As always, individual stocks should be carefully selected based on the best setups.

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