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Sunday 6 November 2011

SP500 - no big moves expected for the next week

Difficult times for trading systems. Most of the blogs indicate that the majority of the trading systems is on the bearish side right now. According to the put/call ratio the market is expecting more bad things to come. However, the ratio is already very bearish. I'm still more on the bullish side. For the next week however, I don't expect big moves. On the upside it's limited to the short term downtrend line and the neckline; to the downside the 50d MA should be a good support. If there is a surprise to come I expect it for the upside.

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