8 nov 2012

Good day for shorts again today as the SPX did manage to move towards the 1380 and closed below the 200ma.  Bearish indeed but everything is at oversold on a 60min basis, so expect a rebound tomorrow.  Will the rebound be sustainable will be the key question and impulsivness will be the clue.  As I see it the daily 1430 is a nice resistance on a daily time frame.  Always follow the indicators with its appropriate trends (main trends) and you will get good at reading how markets might move and increase your chance to profit.