Always consider hidden risks
SP500 Index: The 200 DMA Experiment ?
July 9 ( From Tradeview )
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We have been in one of the most Bullish Stock Market in history
since 2009.The Mighty SP500 Index from a low in March 2009
of 666.79 to the closing peak on May 31 2015 at 2130.82 rose by
of 3.27 spurred by low interest rates and strong buybacks
Will SP500 Index break or fade ?
Take note that we already broke on the downside on June 25 the
20 DMA ( Day Moving Average ) then at 2103.5 and the 50 DMA then
at 2106.8. ( See chart Below - 20 DMA - Yellow Line - 50 DMA - Red Line )
And we broke on June 29 a Major Daily Support from an
Ascending Triangle Pattern at 2077.5 that started on March 11.
And having a daily close back then below the rising support
trendline at 2077.5 was the confirmation of a New Bear Trend.
( See chart Below - SP500 Daily - Red Trendline )
But the Real Interesting Technical Factor happened on July 8 when the Mighty SP500 Index closed below the the 200 DMA ( Day Moving Average ) then at 2101.6 level, a bad technical sign indeed...
( See chart Below - SP500 Daily - Green Line - Ellipse )
A Must Read: What You Need to Know About the 200-Day Moving Average
"Chance favors the prepared mind."
SP500 Index: The 200 DMA Experiment ? $SPY #Trading #Investing #SP500 #stocks
SP500 Index Daily ( Candles )
SP500 20 day moving average ( Yellow Line )
SP500 50 day moving average ( Red Line )