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Originally Posted by coolhand

Yesterday, I said that since price fell (closed) below the 200 dma that the bulls may mount another upside attack. Sure enough, the week started out with a rally that pushed price back above the 200 dma. Maybe there's more.




So, price has now closed above the 200 dma on both charts, but not by a lot. Momentum has not yet turned back up either, but it's a start if the bulls continue to press. I still think

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Stocks failed to follow through on Thursday positive reversal day, and instead rolled over and basically repeated Wednesday's 700+ point sell-off. Trading volume was elevated possibly suggesting it was another day of pension fund rebalancing. The Dow lost 730-points and the selling was broad, sparing few sectors. The charts are now testing some crucial support levels.

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