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
- Obama's Parting Gift: $20 Trillion In Public Debt And A Rising Budget Deficit | ZeroHedge
- New Lidar Chips for Self-Driving Vehicles Are Smaller Than a Dime, Cost $10 to Manufacture | Financial Sense
- Negative Rates and Cash Bans: The Chaos Continues at Jackson Hole | ZeroHedge
- Why Russia Won't Collapse | ZeroHedge
- Anthony Weiner Pulls Out - Deletes Twitter Account After New Sexting Scandal | ZeroHedge
- Iran Deploys Russian S-300 Surface To Air Missiles At Its Fordow Nuclear Facility | ZeroHedge
- "If This Does Not Disqualify Hillary For The Presidency, It's Hard To Know What Will" | ZeroHedge
The most relevant financial news and articles from the Internets
- You can’t understand the Fintech Revolution... | Business Insider
- Check out Alrobot, a gun-toting remote-controlled tank built to fight ISIS | Business Insider
- 28 Libyan troops reporteldy killed in... | Business Insider
- Mercedes-Maybach rivals Tesla with a new... | Business Insider
- This is the stuff you can only get at Microsoft's campus... | Business Insider
- A 'little smudge' could change our perception of... | Business Insider
- These are the languages people most want to learn | Business Insider