Discussion in 'Trading' started by MoneyGod, Jul 13, 2010.
Did today's Gap up, break the bearish trend? or do you think its a false breakout?
God, kindly consult the Devil. A DEATH cross has already occurred on June 29th.
Depends on your definition of "trend".
What does that mean?
Try not to be an atheist nor an agnostic when moving average crossovers occur. :eek:
It's mean the 50 day has crossed down over the 200 day
This is bearish long term for trend
Would you guys be shorting today's rally?
I have a feeling this "death" cross will be short lived. It will cross backup once we're above 1150 on a sustained upward, shallow back filling moves. The bulls want the bears ass once the bear has finished shitting in his pants.
And more than 50% of the time the trend resumes and the two MAs eventually cross back over. And other times there's only a modest drop to new lows before the trend resumes. See 2006, 2004, 1998, 1994, 1990, etc.
However, the bear trend "bias" is certainly still intact for now. Death cross + S&P 500 below 200 MA, 50 MA and 1100 (critical round number level) etc.
everything is wonderful . CSX revenue is up never mind it's still 50% below 2007 level and that AA revenue up on cost cutting and projections are for slower growth. never mind rome is burning around us everything is still ok .
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