S&P 500 Weekly Update for May 28, 2010

The EMA strategy continues to favor the bullish case, since 15-week  EMA > 40-week EMA.  Refer to the following chart.  I continue to hold 40% of my "investment account" in SPY with a stop at my entry price of $104.24.  As of Friday, the closing price for SPY was $109.37, which is 4.9% above my entry price.  (Refer to my posts of May 9 and 10 for my investment rationale at this time.)

Currently, I am long FXE (Euro) and short the dollar through UDN (inverse $ ETF).  In addition, I am long the TNA (3x Small Cap Bullish ETF).