SPXA150R Nose Bleed Levels

SPXA150R chart showing the stocks above their 150 day moving averages. Hand me a hanky, my nose is bleeding at these levels. The 93-94 area typically says, 'Top.' We're there. The test of the 92.5 level, the 20 MA, will tell a lot. The 90, 85 adn 80 levels are important. A large drop in the broad indexes should occur as this falls back below 90, further weakness across the broad indexes will occur as it drops below 85, and also 80. Note the fake out in late January, price went sub 90 to signal a huge drop is about to occur in the broad markets, but it reversed course and decided to float around at this lofty perch a while longer. It's a scary view from up here, with head firmly pushed into the ceiling and all that can be seen is down. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.