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 26,562.05 -181.45 -0.68%
NASDAQ 7,993.25 6.29 0.08%
NIKKEI 225 23,940.26 70.33 0.29%
HANG SENG 27,499.39 -454.19 -1.62%
DAX 12,353.04 2.22 0.02%
USD (per EUR) 1.18 0.00 0.14%
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JPY (per USD) 112.89 0.11 0.10%
GBP (per USD) 1.31 0.00 0.12%