Sunday, August 10, 2008
RedDirts Weekly Update
RedDirt's Charts list continues to grow. I've built out and added links to free charts as the RedDirt Trader Charts link will be gone on September 23rd. The newest addition to the left is the $SPXA50 which shows the number of stocks in the S&P500 which are trading above their 50 day moving average. Normally 100 provides support and 400 is resistance. During bull markets the line can stay above 400 for weeks at a time. During bear markets it can dip below 100 for long periods. I've added an oscillating indicator to the chart, the stochastic. It should help in determining good buying opportunities as it crosses above 20. Also at the bottom of the chart you will see the performance of the $SPX for the past year. As you can see the S&P500 is down 10.82% over the past 12 months.
http://www.decisionmoose.com/ William Dirlam's Moosecall is once again to stay in cash. Since my RedDirt's MooseCharts will be gone I've built individual free charts for each of the ETF's that the Moose uses in his program.
I'll continue to add more chart links in the future. Thanks for stopping by.
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