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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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. The50-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.
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