After Reaching back to the 13 day moving average will the the Dow Fall Again? The S & P futures are show early morning weakness for the major indices. I am still staying on the sidelines!! Until these markets can at least get on top of the 13 day moving average I am not comfortable buying any stocks I need to see some follow through( I will post exactly the day I get in and start buying).
Take a look at the chart above look at the yellow arrows, there is a difference between the last time the market reached the 13 day moving avg. compared to current conditions. When it reached it the first time it was still showing downward momentum. The last few days it has shown upward momentum. Will it bounce off the 13 day moving avg. and continue downward or will it bust through and get on top of the 13 day moving average. I said yesterday was pivotal. Well today is just as pivotal. Continue studying the charts, It will tell you exactly what is going on. There is money to be made studying charts, again be patient and wait for the chart to let you know when the right time is to buy. Have a great weekend..........
Happy Charting
No comments:
Post a Comment