Thursday, October 9, 2014

A few Downside Target Areas

I'll have some charts up in a few minutes, but I decided to go ahead and move primarily to cash to preserve gains and open up options, but some of the levels I suspect may come in to play as today's downside is losing momentum, positive divergences are building and the VIX Inversion indicator has given its first buy signal since early August.

For the Dow I'm looking at the 200-day moving average around the $16895 area and as a secondary $16671

For the SPX I'm looking at the $1904.86 area, the 200-day and as a secondary the $1968 area.

For the NDX I'm looking at the 100-day moving average around 3925 and a secondary at 3935.

And for the RUT I'm looking at the 500-day average at 1046 and a secondary at 1071.

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