Wednesday, September 26, 2012

SPX Daily

SPX Daily
We are finally seeing a decent pullback in the S&P500 and working off some "overbought-ness". The 50day SMA is currently about 1410ish, and you can see the high volume zone between 1400-1420 on the chart above. I'm expecting the bulls to make a stand in that area the first time down (assuming we get down that far).