Wednesday, July 7, 2010
Where's the market headed?
The advance decline line tells me that we are in an accumulation phase of the market. With the 50 day ma still above the 200 day ma this may take more time to play out. With a sideways pattern staying above the 200 day ma leads me to believe the next leg up is in the near future. Exactly when it will start is not known. Normally the fastest money is made during the 2nd leg up of a bull market. I think we could see the Dow move to the 14,000 level during the next move. But first we must see a S&P500 close above the 29 day ma.
Sorry for not posting more often but I just haven't had the time. Between my day job and managing 3 accounts of my own, Time is Short!
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"S&P500 close above the 29 day ma"
Wonder why 29 DMA, not 20 DMA or 50 DMA??
OA
Wonder why 29 DMA, not 20 DMA or 50 DMA??
OA
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: July 22, 2010 at 11:43 AM
: July 22, 2010 at 11:43 AM
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: July 31, 2010 at 1:31 AM Subscribe to Post Comments [Atom]
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