Tuesday, August 20, 2013

Indexes target 100 day moving average

The DJIA has already blown thru its 50 dma and 100 dma.

The S & P and Russell 2000 have blown thru their 50 dma and have yet to test their 100 dma.

The COMP has yet to test either.

History does not always repeat itself, but it does often rhyme.  My current approach is the following:  As the taper draws nearer and earnings season wraps up, all indexes will eventually test their 100 dma and bring their 200 dma into view.

50 dma = red
100 dma =pink
200 dma = yellow

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