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Oversold Everywhere

TedTed
in Fund Discussions
FYI: As shown below, the S&P 500 closed yesterday at the very bottom of oversold territory in our trading range chart, meaning it is two standard deviations below its 50-day. It has gotten down to this level once over the past year (back in February), and it bounced nicely then. As you can see in the chart below, while the index has taken a dip recently, it is still trading within its long-term uptrend. Obviously trading over the next week or so will be key.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/8/7/oversold-everywhere.html?printerFriendly=true

Comments

  • Old_Skeet
    edited August 2014
    Thanks Ted for posting. I have most always found your links have usefull information. It is much appreciated.

    Old_Skeet
  • CrashCrash
    edited August 2014
    Thanks for that observation, Ted. I have been watchful, but not panicking---particularly through the global mayhem involving airplanes shot down and the Russian Penis ---oops, I mean Putin--- causing such a stink, and so many deaths in Ukraine. (Why is it improper any longer to refer to THE Ukraine? I just read that, elsewhere.) Portfolio is down from an all-time high level just more than 2% through all of this. If things manage to "bounce" in the days to come, I'll be glad. My european fund PRESX does not like what's happening at all. I bought that fund last November, mid-month. It's dipped below 15% of portfolio, today.
  • LLJB
    I'm not much of a technical guy, but interested enough to have questions without a lot of answers. The Bespoke guys are looking at a 50 days moving average and Bollinger bands around that. It seems the most typical moving average for Bollinger bands would be a 20 day moving average. Is there any reason one or the other, or something else for that matter, should be a better indicator of what's likely to happen this time?
  • MarkMark
    @LLJB - there is a monthly running TA thread in the M* discussion forum of Fidelity Investments. Some pretty bright folks in the ways of TA hang out there and share willingly. You might pose your question there as a newbie and see where it takes you. Good luck.
  • LLJB
    Great, thanks Mark!
  • rjb112
    Old_Skeet said:

    Thanks Ted for posting. I have most always found your links and have usefull information. It is much appreciated.

    Old_Skeet

    Ted, I also very much appreciate your links.
    They are a veritable library of market information
    Thanks
  • TedTed
    @Old_Skeet & rjb112: The sole purpose of my links is to help MFO fund investors make more informed decisions regarding Open-End ,ETFs and CEF's mutual funds.
    Regards,
    Ted
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