Technicals Collision on SPY
Posted by NHF | Posted in Finance, Stock Technical Analysis | Posted on 9:00 pm June 22, 2009
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Today the market puked on itself and has been struggling ever since the 200 day moving average was in the picture. Todays action brought the market to a closing below both the 50 day Moving average and the 200 day MA. The bulls will have to prove themselves. Below is a chart showing the importance of today’s action. Also there is another chart if you click Read the Full Post & Comments below.
2 Year Chart showing the lead up to this:












On top of it we had Volume and 20d Lows (on a Institutional Money must have portfolio) confirming the change of trend bias
(pls see
http://reflections-of-reality.blogspot.com/
for more on this)
hystoryrhymes
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