S&P 500 is nearing an important pivotal moment. If 20 dsma crosses below 50 dsma, there is a very strong possibility of price heading down to 200 dsma.
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Wednesday, June 26, 2013
SPX - Keep It Simple, Stupid
I started writing a macro note on what this morning's negative GDP revision means for stocks. But I stopped, as I had to examine my head more than once while typing it. So I said, screw this nonsense and stick with charts.
S&P 500 is nearing an important pivotal moment. If 20 dsma crosses below 50 dsma, there is a very strong possibility of price heading down to 200 dsma.
S&P 500 is nearing an important pivotal moment. If 20 dsma crosses below 50 dsma, there is a very strong possibility of price heading down to 200 dsma.
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Unquestionably, the 20 day MA WILL cross below the 50 day MA Thur/Friday.
ReplyDeleteMomentum from last week is carrying this lower, and this recent bounce is surely indeed...just a bounce.
Should be a very valid short from sp'1600 down to the low 1500s.