During the past two weeks, the major market averages have fallen below their long-term, 200-day moving average (red line). This trend does not portend well for equities, but the good news here is that we still are trading above our short-term, 50-day moving average (blue line). The chart below of the S&P 500 SPDR (SPY) illustrates the purgatory zone equities that we now are bouncing around in. If we are to see a sustained move to the u[...]
Read More...
[Source: The Money Blogs]
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment