Market damage $SPY
- Posted by admin
- on June 1st, 2011
We took out 3 major moving averages today, 20SMA, 50SMA, and tagging the 100 SMA which finally stalled the bleeding. From a technical point of view we’re working with damaged goods now. We’ll spare you the “stock picker’s market, be cautious, raise cash” cliches, but we think we’re in for a range bound grind of a summer going forward. Oh yes, and this will be a stock picker’s market, please be cautious and raise some cash.
Four slow steps up, and one very dirty fast move down.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
- Goodbye sweet trend
- Update III: Now what?
- Will it be any different this time, part II
- Will it be any different this time?
- The perfect chart and goal
- Government shutdown/Debt crisis in perspective — see yellow box
- John Cleese telling it how it really is
- Bit of monthly perspective on the Russell
- Keep swimming but with an eye on the shore
- Make peace with not catching every move