S&P 500 close = 1110.63

Long-term trend = L

Short-term trend = L

Intermediate (SWING) trend = L (11/23/09)
Intermediate (SWING) position = None (purchase price = $0)
Intermediate (SWING) stop loss level = NONE

(click on link on the right to see 'swing trade performance')
(ALL OF THE ABOVE ARE SUBJECT TO CHANGE INTRADAY)
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Given that tomorrow is Thanksgiving and Friday is shortened session, I decided to close my BGU swing position for 2 reasons: 1) my short-term trend line was briefly breached at the end of the day, 2) Market leadership is waning and things again look overbought in the near term. I only made a small amount on this swing trade, but at least I was able to lock in a profit for this first trade using my new method.

Friday should be relatively quiet barring any major world events. Levels to watch for Friday:

1112 - recent high and resistance

1108 - mild support area

1097 - more significant support; a break of this will reverse the short-term trend back to down