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Brett's Stock Market Pulse Friday, May 20, 2011 (Market Staying Range Bound)

|Includes: SPDR S&P 500 Trust ETF (SPY)

The stock indices tried to trim early losses of 1% around mid-day but late selling kept today's losses in the 0.7%-0.8% areas in an options expiration filled session. The major indexes (NYSEARCA:SPY) remain range bound between their 21-day and 50-day moving averages. We are watching for two possible scenarios to play out. A break by the indexes above the 21-day moving averages could confirm the bull has longer to run. A fall below the 50-day moving averages for indexes might indicate the bears are in control. Anything in between could make it difficult to make money.

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