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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Markets

DJIA 20,821.76 11.44 0.06%
NASDAQ 5,845.31 9.80 0.17%
S&P 500 2,367.34 3.53 0.15%
DAX 11,804.03 -143.80 -1.20%
NIKKEI 225 19,283.54 -87.92 -0.45%
HANG SENG 23,965.70 -149.16 -0.62%
USD (per EUR) 1.06 0.00 -0.22%
USD (per CHF) 1.01 0.00 0.15%
JPY (per USD) 112.17 0.05 0.04%
GBP (per USD) 1.25 0.00 0.01%

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