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
- Flows Into European Equities Reaches Feverish Pitch, Consolidation Likely Ahead | Financial Sense
- Weather Constrained Retail: Focus on Outdoor Dining | Financial Sense
- "I'm Not Stupid" Monsanto Lobbyist Refuses To Drink Weedkiller After Proclaiming "It Won't Hurt You" | ZeroHedge
- The Battlefield is Primed for Carnage | iBankCoin.com
- Can Money Flows Push Equity Prices Much Higher? | Financial Sense
- Crude Oil Inventories Should Peak Soon | Financial Sense
- Top 100 Ranked Stocks | iBankCoin.com
The most relevant financial news and articles from the Internets
- Banking behemoths are getting outmatched by Wall... | Business Insider
- Go inside an abandoned NASCAR race track that's been left to rot for the... | Business Insider
- The world's authoritarians are... | Business Insider
- Tony Robbins reveals the real story behind his... | Business Insider
- 25 Ways to Make LinkedIn Work for You | BusinessWeek
- Moore denies racism in comments on next Bond | Business Insider
- Nigeria votes in crunch presidential election | Business Insider