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December 17, 2012 at 08:05 AM EST
ES Support and Resistance for December 17
The S&P 500 Index (INDEXSP:.INX) was down slightly for the week. Monday Tuesday and Wednesday were up days but those gains were wiped out during the last two days. The SPX was below the 50-day moving average again but remains above the 200-day moving average. I still think if you are using ETFs as your method of investing that you should stay close to 100% invested using both the S&P 500 ETF Trust (NYSEARCA:SPY) and the Powershares QQQ (NASDAQ:QQQ). (Remember there is also the alternative in the titans should you want to be in stocks. With those you should ...
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