Today, the Standard and Poors 500 index broke through its 50 day moving average line. This is an important indicator used by most institutions to gauge the status of the stock market. We believe that some profit taking is necessary and needed. We will be watching how the indexes hit the targets and how the volume action is displaying selling (distribution) by institutions.
Do you have your own targets for the S&P 500?
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I am a dad, professional engineer, MBA student, and a financial fanatic. I can help you make money in the stock market. I use Fibonacci techniques for retracements and targets, technical analysis, some little fundamental analysis, and automated systems trading. I also trade options. In addition, I use CANSLIM to get neat growth stock ideas. No fluff and no BS.
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