All major indexes are back at the SMA 200 line. Judging from the overhead downtrend lines and SMA 200, we shall see some pullback unless the bulls take charge from here.
Tag Archives: Indu
Like YO-YO
The market acted like a yo-yo. Yesterday Dow Jones Industrial was down 115 and today it’s up 172. The blue lines might be the bottom for the short term. We shall see some upside to test the SMA 200 which acts like the dividing line of bulls and bears.
After Greenspan
The market obviouslly liked the news on the nominee for the fed chairman. So far, QQQQ has moved ahead of INDU and SPX.
A good day for longs
It’s a good day for all indexes. INDU moved over 10400. I have started scaling out stock positions and building up cash as planned.
INDU
INDU lost more than 100 points today, but it remained above SMA 20. Let’s see if this support can hold tomorrow.