This coming week, we should not see any Halloween ghosts or goblin's. With many Mutual Funds year end this week, money managers should keep the S&P 500 trading between 1065 and 1100. We are very close to major resistance on the Dow and S&P. First, we have the 500 day moving averages coming in at 10,325 on the Dow, and at 1120 on the S&P. Second, we have the 50% retracement fib(mid) from the 2007 high to the 2009 low, at 10,300 on the Dow, and at 1120 on the S&P. I'm hearing that many hedge funds are close to being fully hedged up here. In my opinion, this is NOT the time to be looking for NEW LONG POSITIONS. Look at protecting your profits!
