CurtisM

$SPX & SPY positive close for Friday, Nov 1st

BATS:SPY   SPDR S&P 500 ETF
236 0 1
SPY/$SPX managed to close above what I consider to be key EMA's. But the work is not over SPY             must get back above the recent intra-day highs from this past Thursday and then above Wednesday's swing high. For $SPX             the first high it must exceed is 1768.53 and then 1775.22. IMHO, these highs should be taken out early next week in order to show and prove that $SPX             wants to and can go higher.

The market is clearly not sure how it wants to deal with potential taper of Fed funds but for now, with $SPX             above these key EMA's the benefit of the doubt is with the long side trade. Until proven otherwise, IMHO, of course.

GL
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