Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
ETF Market Vital Signs, June 15: Stocks Drop Two In A Row
FYI: U.S. stocks fell for the second day in a row, but perhaps most importantly, major benchmarks rallied back from their lows. Greece, and it’s potential to be jettisoned from Europe’s common monetary union, remain at the fore. So does the Federal Reserve, which will update investors with a policy statement and press conference on Wednesday. Gold rallied, with some watching for the metal to hold allure in turbulent times. Regards, Ted http://blogs.barrons.com/focusonfunds/2015/06/15/etf-market-vital-signs-june-15-stocks-drop-two-in-a-row/tab/print/
For what it’s worth and from a purely - over simplified - Technical Analysis…
The “lows” brushed the 150-day Simple Moving Average. This also happened earlier this year. Each time, the price has bounced off this price area. We have seen this several times over the past few years so this has been a decent buying area.
The first sign of this pattern failure is likely to be if the price falls thru this 150 area and fails to bounce back above it with greater than average volume. This would mean that the next (lower level) of price support would be that 200-day moving average.
If and when the markets break down, it appears to me that $INDU will be the first to go.
Comments
from a purely - over simplified - Technical Analysis…
The “lows” brushed the 150-day Simple Moving Average.
This also happened earlier this year.
Each time, the price has bounced off this price area.
We have seen this several times over the past few years
so this has been a decent buying area.
The first sign of this pattern failure is likely to be if the
price falls thru this 150 area and fails to bounce back above it
with greater than average volume.
This would mean that the next (lower level) of price support
would be that 200-day moving average.
If and when the markets break down, it appears to me that
$INDU will be the first to go.
Off to play tennis.