Investorstoday

Tuesday, May 29, 2012

S&P 500 Technical Analysis, May 29, 2012


SPX daily chart






Post-Memorial Day is often a bullish time for the markets with the pre-summer rally taking over allowing people to enjoy the nice weather and forget about the problems in the world. 

Technically the market is still a bit oversold with the MACD line ready to cross the signal line and the RSI line a hair above 35.  I believe that we will see a rally the next week as we work off some of the oversold conditions but then reality takes over.  We should bounce around between 1290 and 1340 for the next month before heading lower. 






First Quarter Update is Now Available!!!!

The first quarter update is now available through Smashwords, the world’s largest independent ebook distributor for just $4.99, by clicking here.  In this update I take a look at the political climate and how it will affect investing over the next quarter as elections in Greece and France take center stage with the national election ramping up in the United States. 

The contents are as follows:

Chapter 1:  Where do we go from here?
Chapter 2:  Election Risk is Rising in Europe
Chapter 3:  An Early Look at the 2012 Elections
Chapter 4:  What happens for the next three months?
Chapter 5:  Three Long Ideas Update
Chapter 6:  Finale

The next update will be in early July covering gold and silver and putting some meat into my call for $2800 gold and $75 silver next year. 

Smartwords distributes to Apple, Barnes & Noble, Sony, Kobo, Diesel, and others along with instructions on downloading to your Kindle meaning that this and future work will be available in multiple formats from mobi to ebook to pdf. 

If you wish to place a banner ad and help distribute the 2012 Investment Forecast and future works I am offering a 25% commission on all sales.  You can find more information here: 




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