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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.

spy6-22-09

2 Year Chart showing the lead up to this:

spy6-22-09-2yr

More on this topic (What's this?)
Five years of trend trading in SPY (All Allan, 2/14/10)
Arachnid Sell Signal (All Allan, 6/11/09)
Why I Think We Need To Go Lower Before Going Higher (The Technical Take, 2/12/10)
Read more on SPDR Trust Series I at Wikinvest

Comments (3)

hystoryrhymes said on 10:21 pm June 22, 2009

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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- said on 1:06 am June 23, 2009

Love the new site.

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Nicholas Lewarne said on 6:48 am June 23, 2009

Thanks! I appreciate that.. Im definitely liking it too.

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