The SPX is currently below its 50-day moving average and above its 200-day moving average. Both averages are moving higher but the 50-day average will begin moving lower soon.

The markets have received a very powerful shock last week after the computer generated mini-crash occurred. The odds do not favor a continued advance. Too much damage has been done and it will take some time for the markets to work through this.

There does now appear to be a new trend, and it is to the downside. Hopefully this will be a short lived correction, but there is no way to tell yet.

Open Trades Ticker Entry Last G/L jce 8.80 12.02 36.59% ggn 10.00 15.94 59.40% coh 16.00 36.38 127.38% pfm 11.50 12.56 9.22% xgc 12.25 19.69 60.73% aapl 88.00 201.67 129.17% gab 2.80 4.99 78.21% auy 4.25 10.58 148.94% Total Performance (Closed + Open Trades): 81.205% “Stock Picks, Opinions, and Updates!” Stock Picks Daily Stock Notes Throughout the Trading Day in our forum Stock Updates on Past Stock Picks in Play Important Stock Alerts to Your Email Box Featured Stock Profiles Ability to Submit Stocks for Review Become a Member!