We closed below the 50 dma for the third time in about 2 weeks. I think thats an ominous sign. However, the dow isnt doing that badly.
This is the 3rd Close Below the 50 dma in 2 weeks —
- Thread starter derektrader
- Start date
Where your 50 DMA and market closes becomes meaningful is when there are successive closes.
Not there yet.
Your 50 DMA has historically been a mixed bag in terms of price action follow-through as well. It's not magic.
Where the 50 DMA tests well has been follow-through to the upside, which isn't surprising. Buying in April was far more profitable than selling in February in the NASDAQ.
Not there yet.
Your 50 DMA has historically been a mixed bag in terms of price action follow-through as well. It's not magic.
Where the 50 DMA tests well has been follow-through to the upside, which isn't surprising. Buying in April was far more profitable than selling in February in the NASDAQ.
What closed below the 50 DMA line for the third time in about 2 weeks? We know you do not mean the DOW, since you said "the dow isnt doing that badly."
*ssshhhsUSHH*! Don't give the boy hints!
The past 2 times we closed below the 50 dma on the naz we bounced the following day. This is the third time, tomorrow will be crucial.
Or you could just draw a trend line and be done with it. Nothing at all particularly special about a Daily Moving Average.
The future is predetermined as is usual with such election events: after the election the markets have obligatorily to rise, so by this downturn before the election some necessary room is created for the big event later... An invisible hand directs everything... 
And the invisible director and his invisible friends from a little country in the ME are as always the winners of this market manipulation game...
And the invisible director and his invisible friends from a little country in the ME are as always the winners of this market manipulation game...
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On the contrary, MILLIONS of traders all over the world make trading decisions around these highly popular moving averages (the 50, the 100 and especially the 200 day), so it pays to watch the market's reaction when the price touches one of these averages.
But granted, there is absolutely nothing magical about them, they are just silly numbers.