- Reaction score
- 555
Well what was it, make or break??
I just know I made a little money, I fund socks pretty hard at times.
Good thing I wasn't in the I fund. :nuts:
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Well what was it, make or break??
I just know I made a little money, I fund socks pretty hard at times.
Well what was it, make or break??
I just know I made a little money, I fund socks pretty hard at times.
Good thing I wasn't in the I fund. :nuts:
It looks like every single market tested the top of their trend lines today. These last two weeks have been nothing but bottom test, top test, bottom, top.. ugh. Can someone with a remote to fast forward to Friday? I want to know what happens! One exception has been the Dow Jones Transports though. After it's low in mid-June it kept rising and has been testing it's 50 Day SMA for the last 5 days. But the fact that it hasn't retested it's 200 SMA since has to be encouraging for the Bulls.
Personally I say yes. We didn't have 6 weeks of declines because all the sudden Greece looks bad again. They've looked awful since 2010. It was 6 weeks of worse than expected economic reports, coupled with some Q1 corporate earnings coming up short. That's why I believe the markets dropped to their 200 MA's. This latest rally is on a week of little economic news and lower volume. Then factor in that at the end of the quarter and 'Big money managers' tend to pad their balance sheets to show all the equities they're holding in their quarterly reports.
So while I'm long-term Bullish, I don't believe the current prices in the market have much solid footing underneath them.