if you look at the 2 year chart of the dow and spooz there are periods where it sells off a couple percent and then rebounds to news highs in a cyclical pattern. Sometimes it goes even lower, but this is rare. Now we're on the bottom of the cycle, and the upside potential is greater than downside.
Told ya it was time 2 cover When it is time 2 cover it isually is The chart on the indexes is soo bullish. FXI go all in and BIDu RIMM GOOG AAPL Not to be a smartass but I know *almost* everything
I don't know what your looking at thats so bullish. I see all indexes below their 50 day, 20 day moving averages.
Moving averages are useless because they arent reliable at predicting direction. GOOG was trading below the 200 day average 2 years ago..um yea we know what happened later.
I am not aware of anything that correctly predicts direction. Its all about the trend and waiting for a time to jump on that trend, and when you do then manage the trade. Moving averages are IMO the best tool to use in determining that trend. And some times their is no trend, in that case use S/R levels.
from the time you said to cover, the ES went down 31% of the days move.....that's not knowing much of anything. lol
It went down fast and rose fast. Oil near $100.00 and the fed is going to cut rates, this is history folks.