On the SPG daily chart, the 50ma, 20ma and 9ema are all right
together. It closed today right on the 50 (157.95 close;
158.02 is the 50ma). I am short from last week (slightly in
the green), and waiting to see what it's going to do. Any
thoughts, things to watch for etc.? Of course, may just
bounce right off the 50ma. Currently my stop is at
160.50.
Market looks like it wants to break upward (maybe after
completing the ABC down correction/h&s pattern on the intraday
charts). If it does I may cover this if not already stopped
out. Was stopped out on WMT yesterday, and RE today.
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SPG - something's coming
Posted by frtaylor on 5th of Sep 2012 at 09:33 pm
On the SPG daily chart, the 50ma, 20ma and 9ema are all right together. It closed today right on the 50 (157.95 close; 158.02 is the 50ma). I am short from last week (slightly in the green), and waiting to see what it's going to do. Any thoughts, things to watch for etc.? Of course, may just bounce right off the 50ma. Currently my stop is at 160.50.
Market looks like it wants to break upward (maybe after completing the ABC down correction/h&s pattern on the intraday charts). If it does I may cover this if not already stopped out. Was stopped out on WMT yesterday, and RE today.