By some reckoning the recent bull market is now about 25 days old. My sources have now turned either neutral or are creeping into bearish sentiment. While the 50 day moving average has been cleared there remains a great deal for this market to do were it to be called an all-go bull market. The major point being made is that the economy has run itself into such a bear frenzy that it will not be easy to come out of it. The recent bullish trend is indicative of a false countertrend, too great of a recovery in too short of a time.
This post highlights the 100 and 200 day moving averages for the S & P 500. Note, the 200 day moving average is just below 1000.
No comments:
Post a Comment