Take a look at this chart of the S&P 500...
Here's what I see:
-The 21-day MA has crossed below the 50-day (bearish)
-The 50-day MA appears to be turning down (bearish)
-The 200-day MA is acting as support right now, but has seemingly flattened out (neutral)
-The price action has dropped convincingly below the bollinger bands (bearish)
-The trading channel of the past 4 or 5 months has given way to the downside (bearish)
-The latest round of QE to infinity was sold off pretty quickly (bearish)
I don't necessarily plan to do anything about it, but it's worth taking note of.
Broken Money
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When I told my son last night that KD and Kyrie were heading to Brooklyn, he said "I hate the Nets" and stormed out of the room. ...
