Friday, March 23, 2012

Weekend Thread

SPY Daily Chart
It was a down week but I think it can be logically argued that the broad market as represented by the SPY held up quite well.  In March the 20 day simple moving average was pierced and we actually spent 2 sessions below it.  This time we bounced from just above it.  A follow through on Monday could put is back on track for new 52 week highs.