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Thread: Testing the 20-day MA again

  1. #1

    Default Testing the 20-day MA again

    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...



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  3. #2

    Default Re: Testing the 20-day MA again

    Quote Originally Posted by tsptalk View Post
    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.

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  5. #3

    Default Re: Testing the 20-day MA again

    Quote Originally Posted by 350zCommTech View Post
    I guess I'm a little more bearish than you.
    Nah, I was just trying to be unbiased. No bull here.

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  7. #4

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    Default Re: Testing the 20-day MA again

    My trendline has been violated...

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  9. #5

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    Default Re: Testing the 20-day MA again

    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.

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  11. #6

    Default Re: Testing the 20-day MA again

    Quote Originally Posted by JTH View Post
    My trendline has been violated...
    Sorry to hear that. I hope it wasn't too painful.

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  13. #7

    Default Re: Testing the 20-day MA again

    Quote Originally Posted by coolhand View Post
    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.

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  15. #8

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    Default Re: Testing the 20-day MA again

    Quote Originally Posted by tsptalk View Post
    Sorry to hear that. I hope it wasn't too painful.
    Pain is something I've learned to get use to. 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.

    Attachment 6338
    Last edited by JTH; 12-04-2009 at 08:23 PM.

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  17. #9

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    Default Re: Testing the 20-day MA again

    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.


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  19. #10

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    Default Re: Testing the 20-day MA again

    20 DMA busted today on most majors but the Nasdaq managed to stop right on it. OEX and NYSE look very toppy here.

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