Tuesday, July 19, 2011
Choppy Action
The S&P 500 has really gone nowhere the past week or so, but the action certainly is choppy. If you are a technical trader who utilizes moving averages this is one of those difficult times as we keep moving up, down, and around a key level - i.e. the 50 day moving average. Yesterday's breakdown would have had you reducing risk and raising cash. Only to be confronted with a surge in the market that takes the S&P 500 right back over that key level. It definitely is bipolar action the past month or so....
