Monday, April 28, 2014

Struggling to stay afloat for the coming month.

From the last post I gave while I was on a spring break vacation I noted a rally was overdue due to oversold readings. Got a week long rally but then the market turned back down the last several days. The stock market is using the Ukaine crisis as an excuse for most of the selling. The real issue should be that the SP500 has now gone 17+ months since it last touched its 200 day moving average (the longest in the last 25+ years being 19 months in 1996.) So I could see some consolidation or more likely... weakness in the coming month as the SP500 is still about +5% above its 200 DMA.

No comments:

Post a Comment