A trend is just a historical moving average over some time period. After the trend reverses which it may already have, you will eventually find out. The price of your moving average as a lagging indicator is you find out after the fact ! The 200 day EMA is still in uptrend and dosent even know of our little SP blip !
On a daily moving average the trend reversed today !
The probability of that reversal increases as the reversal continues but the probability is no guarantee my friend
My gut tells me the SP is undervalued based on fundamentals as discussed by many in this forum.
As someone who also employs TA in the decision making process I have to say if I had to make a choice I'll take fundamentals agains statistics any day !
Happy investing
GXY Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
