A pull back would seem in order here, but we'll see what expiry Friday has on tap for the market tomorrow.
SPX Daily Chart:
Thursday, March 19, 2009
SPX: Kissing the 50MA on the Daily
One thing I love about Moving Averages is the way they become magnets when the price action strays too far away from them. A good example of this can be seen on the SPX Daily Chart. First the price ran up to the 20MA and then kept on going up to the 50MA where it took a pause today.
A pull back would seem in order here, but we'll see what expiry Friday has on tap for the market tomorrow.
SPX Daily Chart:
A pull back would seem in order here, but we'll see what expiry Friday has on tap for the market tomorrow.
SPX Daily Chart:
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