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
- Chart of the Day: With Stocks Near All-Time Highs, Financial Stress Turns Negative | Financial Sense
- Mega M&A Is Back: Abbott Buys St. Jude Medical For $25 Billion, 37% Premium | ZeroHedge
- Why Is JPM's "Quant Guru" Suddenly Worried About The "Endgame" | ZeroHedge
- Consumer "Hope" Slumps As Inflation Expectations Hit Record Lows | ZeroHedge
- The Fed Just Found Its Next Excuse Not To Hike Rates | ZeroHedge
- This Is Where America's Runaway Inflation Is Hiding | ZeroHedge
- China Industrial Profits Soar Most In 18 Months But Overcapacity Looms | ZeroHedge
The most relevant financial news and articles from the Internets
- The $120 million penthouse once owned by the 'King of Wall Street... | Business Insider
- The rise of reloadable prepaid... | Business Insider
- China's army of investors haven't learned their lesson, and it looks... | Business Insider
- A beta tester leaked video of what it's like to play the iPhone... | Business Insider
- This is how Taco Bell, Starbucks, and other fast-food chains are... | Business Insider
- Drones are about to fill the skies within the next 5... | Business Insider
- FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy | Business Insider