Both the nasdaq and s&p both blew through the 50 dma. The dow went through both the 50 and 200 dma. This is not a good sign. This market is going much lower.
%% True, but the surprise is the DOW/DIA went up that far LOL Looks like lower, for SPY,QQQ. I figure SPY+ QQQ finish up strong this year; but all 3 of them could easy retest the 52 week lows. NOT a prediction+ not much of a DOW watcher.
%% Let profits ride. I like what a DOW derivative traded noted + he made some big bucks,[ public trades] day ttrading DOW derivative. '' DOW is correlated too itself''LOL So true...…..,. ,,
Great thing about such presumed "important levels"... is that it's logical to play "long above, short below". Complicating things this time is the nearby 200 DMA..... same principles, same reason.
%% That + SPY is a buy, if one like to buy late, in the year+ down from 17.777% gain/oops. Actually pre-election years tend to be/finish super strong; not so much the summer ......LOL If one likes to buy above 50 dma,+ some still are =SDOW .....LOL. NOT a prediction,+ not much of a DOW watcher.,