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Joined: 28 Dec 2005 Posts: 11984
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Posted: Fri Oct 17, 2008 2:54 pm Post subject: Bullish Intermediate-Term Technical Indicators |
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The NYMO 20 & 50 day MAs suggest SPX will begin a rally in late October, perhaps reaching 1,200 in January. However, over the next week or two, volatility may continue, until the NYMO 50-day MA falls to about negative 30. Also, currently, the daily VIX is above 70, after reaching an all-time high above 81 Thursday. The monthly VIX hasn't closed above 45 since at least 1990. So, it may be best to buy on pullbacks and sell some on bounces, while holding some long positions for much larger gains (see top stock picks and charts below).
Top Buys: SPY DIA PFE SGP AXP BAC HAL FCX AA IR YHOO DNDN
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