Friday, August 12, 2016

SPXA150R S&P 500 Stocks Above the 150-Day MA

Well over 80% of the stocks in the S&P 500 are above their 150-day moving average (MA). This is very bullish. The peak at 86-87 in late July is very elevated. When the SPXA150R moves above 90, you can figuratively bet the farm on the short side since stocks will sell off hard going forward. The 86-87 is close enough for government work. Conversely, when the index prints under 35, that is a good time to go long since there is blood in the streets. What do you think will happen?

If price comes up for more new highs as the stock market rallies, that would be an excellent shorting opportunity against the market. However, the index may not print higher than the current 84-ish. The SPX daily chart hints that a pull back is needed in the daily time frame now. 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.