S&P 500 Crosses 50 Day Moving Average

Monday, October 12, 2009

I have found a very good article on Bespoke Investment Group Blog. They mention the S&P crossing the 50 day moving average.

Sentiment is positive for risk taking investments like long oil positions.

"After breaking above its 50-day moving average briefly early last week, the S&P 500 failed to take out this resistance level and headed lower for the remainder of the week. But the index has broken above its 50-day once again this morning, and its ability to hold above this level will be a key test for whether or not this rally can continue. The S&P's 50-day is currently at 795, so watch for where the index closes in relation to this level today."

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