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$SPX Daily Update

S&P 500Friday was another tough day, for sure!. Earlier in the week it looked as though the S&P500 had found some support. Now that doesn't seen to be the case. The 10 day moving average has moved down below the 30 day MA and it looks like we're in bear market territory. Eventually support will be found, the question is just where and when. In any case, when that happens we'll be looking to put on a bearish position (unless of course the market turns around). You just never know. We'll wait and see what the coming week has in store. Until then, good trading!

Disclosure: No position