Tuesday, March 30, 2010

SPX Update: 3.30.10

As you can see from my last post March 24, the SPX is slighty up. Though from last week into this week prices has arguably traded sideways with no big significant up or down days. Volume is also very average to light confirming this sideways trading.

I am still maintaining my bearish view into next week. Prices are too high at these level to substantially sustain levels in the 1200. IF prices do reach 1200 before a 5%+ retracement, I would consider strongly shorting at perceived resistance levels.

I have 7 more days for my thesis to play out, afterwards I will assess my performance. As of late timing has been an issue for my short-term performance, which is typically why I tend to trade longer term trends. Overall, my mid and longer term views also still hold. (see my march 24 post --> CLICK HERE MARCH 24th POST>)

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