SPY and DIA slice through 50 day Moving Averages to the downside
The markets are tanking hard today. Both the DIA and SPY are now below their 50 day Moving Averages. Look to play the bounce near the 200 day moving average.
This is a big techincal "oh shit we are going to tank" signal. However consider it's all around the Dow Jones almost Flat thanks to Argentina.
Thus we could have a nice bounce tomorrow should the news subside over Argentina. Could this finally prompt a correction we have all been waiting for?
Most likely it is the first option. Happy trading.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Crude Inventory Build Sends Oil Prices Into a Nosedive | Financial Sense
- Russia Readies Back-Up System For Potential "Split With International Banking System" | ZeroHedge
- Be Careful What You Wish For, Police Body-Cam Edition | ZeroHedge
- Christian Malanga: New Government Could Free the Congo and Provide Vast Opportunity for Investors | ZeroHedge
- Condo Flippers In Miami-Dade Left Twisting In The Wind | ZeroHedge
- Imagining a World After Fossil Fuels | Financial Sense
- How The Surveillance Program Works, And Who Can Order It: Former Intel Chair Explains | ZeroHedge
The most relevant financial news and articles from the Internets
- There's a strange corner of the internet that loves to look at... | Business Insider
- AMC is planning an ad-free streaming... | Business Insider
- Here are the 11 fastest-growing apps in the US | Business Insider
- Children who eat too much sugar are developing diseases that only... | Business Insider
- Wall Street already knows how to spin Trumpcare's ugly... | Business Insider
- The 6 most expensive products Apple has ever sold (AAPL) | Business Insider
- I tried Stitch Fix, the subscription box that actually gets me because... | Business Insider