richo
74 posts
msg #92374
- Ignore richo |
5/9/2010 7:36:19 AM
Only 9 stocks on the S&P 500 had a 5/7 close over their respective MA(20) which equates to 1.8%. This is an extreme reading and I expect at least a short term rally starting on 5/10
Regards
Rich
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pirate67
99 posts
msg #92382
- Ignore pirate67 |
5/9/2010 11:36:08 AM
Of interest: http://www.wallstreetwindow.com/content/node/15511
My observation: QQQQ and SPY intraday Thurs went below their 200 MA. If you want to interpret that Thurs extremes should be invalidated; then what you have left are closes slightly above the 200 MA. My guess is that we will develop a trading range centered around the 200 MA's, until a big down day reversal signifies the resumption of the long range upward trend.
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jrbikes
624 posts
msg #92384
- Ignore jrbikes |
5/9/2010 1:36:49 PM
Wow! hmmmmmmm, I am no genious by any means, but a chart of the DJIA shows that it sold off to exactly a 3 month support level, there was nothing in between, now there are many prior levels it could go to but to engage is speculative at best! time to start charting ETF'S
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marine2
963 posts
msg #92407
- Ignore marine2 |
5/10/2010 2:08:01 AM
Market could do a melt down to 0 if they don't find safety stops that will stop the markets from falling like a rock. Until they can prove to us they have a reliable trading system in place be very careful with equity trading / investing. Hard for me to say this because I am usually a stouch supporter in stock trading / investing but with what happened just recently and back in 2008 I am now looking for the next axe to fall. Just those two disasterous trading days lost many people their hard earned savings. Be very careful trading and investing.
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