Inquiring minds are reading MarketWatch.com’s “Have a Good Fall” with mouths agape:
At this time, the technical indicators point to an extremely dangerous market. No one seems happy. The bears are frustrated that the market hasn’t confirmed their worst fears. The bulls are not convinced the worst is behind them.
Looking at the moving averages, the Standard & Poor’s 500 /quotes/comstock/21z!i1:in\x (SPX 1,055, +3.46, +0.33%) has dropped firmly below the 200-day moving average and the 100-day MA. We’re now waiting to see how it reacts to the 50-day MA. In addition, MACD crossed below the 9-period signal line using the default setting of (12,26, 9). As this is written, MACD is close to dropping below the zero line, a highly bearish sign.
There is so much more and this article should be read in it’s entirety NOW!!!
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