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View Full Version : Testing the 20-day MA again


tsptalk
05-15-2009, 11:08 AM
It's day 3 of a test of the 20-day moving average. Sitting at 885, this seems to be a critical point for the pullback in the rally...

http://www.tsptalk.com/images/mb/051509.gif
350zCommTech
05-15-2009, 11:21 AM
It's day 3 of a test of the 20-day moving average. Sitting at 885, this seems to be a critical point for the pullback in the rally...

You see a test of support while I see the leaders kissing support goodbye(charts in my thread). I guess I'm a little more bearish than you.:D
tsptalk
05-15-2009, 11:32 AM
I guess I'm a little more bearish than you.:D
Nah, I was just trying to be unbiased. No bull here. ;)
JTH
05-15-2009, 11:45 AM
My trendline has been violated... :(
coolhand
05-15-2009, 11:50 AM
This being OPEX week, the markets action cannot be read into to deeply.

Next week however, is when the true test begins. I'm not necessarily looking for a plunge, but I suspect the market's going to be making some bulls nervous.
tsptalk
05-15-2009, 12:14 PM
My trendline has been violated... :(
Sorry to hear that. I hope it wasn't too painful. :D
tsptalk
05-15-2009, 12:17 PM
This being OPEX week, the markets action cannot be read into to deeply.

Next week however, is when the true test begins. I'm not necessarily looking for a plunge, but I suspect the market's going to be making some bulls nervous.
OPEX weeks are historically pretty good, but they have been weak during the bear market - although April's was up slightly. But it's post OPEX week that has a tendency to be weak historically.
JTH
05-15-2009, 12:20 PM
Sorry to hear that. I hope it wasn't too painful. :D

Pain is something I've learned to get use to. :cheesy: Still, I have been following this channel for a couple weeks or so. The writings been on the wall and now it just needs a fresh coat of paint. :D

6338
Birchtree
05-15-2009, 04:35 PM
It's natural - the pause that refreshes. Money is flowing like water into the market and all this liquidity will keep the bulls afloat. I finally had a loss on week #10 but it is tolerable. Maybe I'll get lucky and catch another $10 price on the C fund next week.
Bullitt
04-27-2010, 06:44 PM
20 DMA busted today on most majors but the Nasdaq managed to stop right on it. OEX and NYSE look very toppy here.