Monday, February 20, 2012

SP500 follow up

This is a follow up on SP500

The index traded towards 1350 point (even broke it) - where was our profit target - and retreated to find new support 1336.

Breaking above 50-day moving average and further going back into the previously drawn channel (red circle in the right-top corner) could have been new entry point for long position, with a StopLoss @ 1329. Adding a -10 point trailing stop loss can help to lock-in gains as the market corrects.

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