Friday, May 17, 2013

Indexes At Extreme Levels Above 200 MA's

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How long have we've been hearing that the markets are due for a correction now? Granted it seems as if nothing can bring this market down...but something to consider, the S&P500 & Nasdaq daily charts relative to their respective 200 day moving averages, do suggest could see a pullback at any time. Now what will be the catalyst is another question?

*Note from Sept 2010 to May 2011 $SPX gained 30%. From Oct 2011 to April 2012 +32%. Now from December 2012 we need to see $SPX 1755 for +30%  the index would need to rise 88 points from today's close. Also to get a 15%+  the 200ma would be at 1500.

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