Finally an exciting day.... this is only the second episode (Egypt being the other) where the S&P 500 has retraced to the 20 day moving average since Thanksgiving. Let's see what the dip buyers do.
Bears will want at minimum a close below the 20 day, and to stay there for a few days. If that happens, a good chance like in November a move to the 50 day (which of *course* would be the buying opportunity of the decade) ;) But the bears mortal enemy - the first day of the month - is next week so let's see what is in store...
Tuesday, February 22, 2011
Only Second Revisit to 20 Day Moving Average Since Thanksgiving
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows