200 day moving average on SPX is at 1449 for SMA and EMA. We first hit 1555 on July 13th, then hit it 3 more times the latest on July 19th. It has been 10 days down since that intra day high. It is hard to believe that we went from all time highs to going below the 200 day mov av in 11 days.
Tomorrow we will slice through da 200 day SMA on SPX500
Started by
hedgehawk
, Jul 31 2007 11:11 PM
3 replies to this topic
#2
arbman
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- Traders-Talk User
- 19,504 posts
Quant
Posted 31 July 2007 - 11:15 PM
Feels like it was just a house of cards built on borrowed money...
#3
GOOSE2
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- Traders-Talk User
- 248 posts
Member
Posted 31 July 2007 - 11:42 PM
Feels like it was just a house of cards built on borrowed money...
ES is already 13pts below it's 200 on the daily
#4
pdx5
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- Traders-Talk User
- 9,529 posts
I want return OF my money more than return ON my money
Posted 01 August 2007 - 12:36 AM
Feels like it was just a house of cards built on borrowed money...
I have felt that way for a couple of years, and I believe my posts have
said that exact sentiment in the past.
I think most thoughtful people knew the house of cards would topple,
just impossible to predict the exact timing of that event. The market
will most likely experience a bounce here but the toppling has begun
and we could go a lot lower.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
