Thursday, November 12, 2009

50, 100 and 200 Day Moving Average on SPY

We are now trading lower than all three Moving Averages (on SPY 5 minute chart). If we can close the day below all three, it will be another strong sign for the bears. The last time we closed below all three was October 28th when SPY closed at $104.42. This is also just before this latest rally began.

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