murray t turtle
Registered: Dec 2001
04-11-12 08:45 PM
Quote from RedTankEra:
Trend change is a major process, takes time, especially on a daily chart.
Considering this is the first time the SP has dropped below the 50 MA since the golden cross happened, and considering it remains uptrending, I conclude healthy pullback and feel confident for the time being.
If you are brave, accumulate under the 50 on lower lows, then when the 50 once again becomes support, add to your position.
If conservative, wait until 50 becomes support once again, then start to buy.
I'm aggressive, below 1350 I will start to accumulate.
Well election years tend to be uptrenders also
GLD, gold are some good uptrends; but silver ,SLV look like pretty good downtrends.
SPY 200 day ma is still below price which is bullish/uptrending.
But since APR 15 tax selling is near,
closing price isstill below 50dma [SPY]
sell volume is increasing,
parabolic time price says sell,
buy volume, has been trending lower[thats bearish also],
20 day ma[SPY] is bearish.
And while SPY is still bullish on 1 year chart/200dma/yearly lows;
i probably will buy a Bank of America forclosure or something similiar. None of this is a prediction