Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Friday, September 9, 2011
UTIL Utilites Weekly Chart 50 MA Line in the Sand
Remember the 50 week MA we were watching days ago? The UTIL 50 week MA represents a trap door for the broad markets, if lost, the markets will go into free fall. The 50 week MA is now 415.66. The last print on UTIL is 417.68, two points above so the market bulls have two points of breathing room.
Watch this very closely today and all next week. If the 50 week MA is lost, the broad markets will more than likely go over the falls within 0 to 20 minutes after the failure occurs. For now, the selling will steady itself before the weekend. If the 50 week MA is lost, Katy bar the door, you will see a blood bath. This informationis for educational and entertainment purposes only. Do not invest based on anything you read or view here or on any links attached to this site. Consult your finanical advisor before making any investment decision.
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