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Thursday, June 28, 2012


My take on this chart is that the 200 DMA will be tested.  A bounce off the blue tine would then be most likely.  The current range continues to be between the 50 DMA and the 200 DMA.  I feel that when the market breaks out it will most likely be to the downside, and the potential for a train wreck has only built up during this consolidation.   1250 may offer support, but even lower prices appear to be coming.

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