The Average Investor's Blog

A software developer view on the markets

S&P 500 approaching the 200-day moving average

Posted by The Average Investor on Oct 27, 2011

With an agreement from Europe, backed by lots of money, tomorrow is likely to be a huge green day in the markets. In order to close above its 200-day moving average, the S&P 500 needs to close above $1,274.19, or +2.59%. Quite possible, if not tomorrow, certainly over the next few days (the breaking point is valid only for tomorrow, but it should be close to the right number anyways). From technical perspective, it starts to look more and more like we are done with the correction. Surprisingly, (tongue in chick) the fundamentals are pointing to the same conclusion.

Happy trading!

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One Response to “S&P 500 approaching the 200-day moving average”

  1. Really very informative & useful post.

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