Thursday, 3 March 2011

SPX Daily Chart - 2 March 2011

     Right now it certainly appears that the fight is over the 1310.87 level which is important for Friday's close. The index is also attempting to hold the medium (blue) moving average. If it can't hold then TDST Support is objective #2 at about the 1286 level.
     Bottom Line: All charts bullish except for the daily and so the Timeframe Mix is at +75%. This value ranges from 0 to 100 and gives me a long-term cash allocation view of the equity markets.

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