Sunday, July 25, 2010

S&P 200dma next

The S&P 500 had a nice rally last week off the 20dma(yellow line). Look for a possible full moon reversal on Monday. The high in June was on the full moon! Look for resistance at the 200dma(white line @1113) or the 100dma(dk. blue line @1128). The 50dma(1084) needs to hold this week. A close above 1128(10600 on the Dow) and we have a new bull market!

Merriman has another excellent free commentary this week.