Sunday, December 6, 2009

SPY weekly chart still shows sign of strength

A friend of mine who follows my blog and concerned about the markets may be pulling back in the near future. My answer to him was that if it happened then I will get out but I will not do anything until the charts tell me. I found that it is important to have a strategy on any investments and even more important to have a confidence to stick with the strategy and let the strategy aid your decision.

The SPY (S&P500 Index) weekly closed at 111.26 as of 12/04/2009. Its MA-4 is 109.88, MA-18 is 105.74 and MA-39 is 96.79. From observation, the general market still has strength to stay its course.

                                (click here to enlarge)

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