August 7, 2011

  • SPX is on the verge of doing a death cross.
  • Last death cross did not perform that much for bears. I am not expecting this second one in a row to under perform. If an up move happens it will be an ideal opportunity to go short.
  • But before the next big move happens bears need to takeout some serious levels. most important of them is the 200 Week Moving Average.
  • Death cross will happen But for it to succeed price need to stay below 200 Week Moving Average.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore