SP500 Levels Into The Close: Bearish Paint Remains

10/15/08 03:15PM EDT

Both the “Trend” (intermediate term) and “Trade” (immediate) are painted bear red on our SPX lines right now. All up moves are to be sold, until we wash out more of the excess that remains from the free bananas monkey Monday rally.

Short Stocks for the “Trade” = 988.07
Cover/Buy for the “Trade” = 866.28

These prices are using a model SPX level of 945.
KM

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.