Tuesday, October 14, 2014

SPX Daily Chart Loses 200-Day MA

The 200-day MA is a key moving average that technicians use for a support and resistance level. The bull's have had a two-year party above the 200 but that ended yesterday with price losing the 200-day MA at 1906. More importantly, the SPX lost the 12-month MA at 1895 which ushers in a cyclical bear market. Watch this closely going forward.

The 10-month MA at 1908 was also lost. The 50-week MA at 1888.45 also failed. Yesterday was ugly technical-wise. Note that price is fighting at the 50-week as Tuesday, 10/14/14, trading is underway. The SPX is trading at 1888.29 as this is typed directly on top of the 50-week MA. Use these moving average levels to assess the strength of the recovery rally. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.