3 days ago I posted...

  1. 19,998 Posts.
    lightbulb Created with Sketch. 1943
    3 days ago I posted
    https://hotcopper.com.au/threads/its-over.4002109/page-1222?post_id=39999367#.XViCffIzapo

    While the US market has staged a recovery on Friday, we are not out of the woods yet as the charts below show

    The S&P 500 has failed to recover its 50-day moving average (red line). Even worse, the 13-day moving average (blue line) has staged a bearish cross with the 50-day moving average, signaling DOWNWARDS momentum is building.


    This suggests a move to the 200-day moving average (green line) at 2,800 is possible.
    If that line doesn’t hold, we could be in real trouble.

    The “line in the sand” for the stock market is the 200-WEEK moving average. If we cannot hold the 200-DAY moving average, we’re heading to this line.


    Unfortunately that’s where Copper, Bond Yields, and Fed Ex, all of them real-world economic indicators, indicate that stocks are seemingly heading.

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.