S&P Chart Looking and Hoping for Support

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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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S&P 500 2,332.06 -11.92 -0.51%
DJIA 20,466.46 -130.26 -0.63%
NASDAQ 5,808.67 -20.07 -0.34%
DAX 11,964.98 -99.29 -0.82%
NIKKEI 225 18,985.59 -276.94 -1.44%
HANG SENG 24,193.70 -164.57 -0.68%
USD (per EUR) 1.09 0.00 0.38%
USD (per CHF) 0.98 -0.01 -0.51%
JPY (per USD) 110.39 -0.16 -0.14%
GBP (per USD) 1.26 0.01 0.52%

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