Saturday, June 11, 2011

Market Comment 06 11 2011

The S&P 500 index is roughly 20 points north of the widely watched 200 day moving average. The 200 DMA is also in the vacinity of the March 2011 lows, which may act as a strong support area. If the market does in fact decline to this level we would expect to see a strong bounce off support.

(Click on chart for easier viewing)

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