S&P Chart Looking and Hoping for Support

When we noted the 50-day moving average it seemed a bit far off under the price at the time. After Friday's selling it is upon us. The SPY has a current 50-day moving average of $143.08 today and the low back on October 10 was $143.09. Watch these levels closely.

The Erlanger Value Lines can be accessed via

OCTOBER 22, 2012

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Markets

DJIA 24,706.35 336.25 1.38%
NASDAQ 7,157.23 72.77 1.03%
NIKKEI 225 20,719.33 53.26 0.26%
DAX 11,144.91 -60.63 -0.54%
HANG SENG 27,196.54 105.73 0.39%
USD (per EUR) 1.14 0.00 0.07%
JPY (per USD) 109.64 -0.01 -0.01%
GBP (per USD) 1.28 0.00 -0.01%
USD (per CHF) 1.00 0.00 0.11%