Stock Market Technical Indicators & Analysis
Decline is reminiscent of what happened last April when SPY failed to hold above 30 week average (solid red line). Will this decline take out June’s lows? No one knows but it is better to stand aside. After a new up-trend begins it is much easier to make money going long.
30 week =red, 40 week =blue. Stage analysis uses 30 week average. Support at 30 week average might keep one invested during declines. Boston IBD Meetup is terrific, view tonight’s recording for a great tutorial on using iBD and MarketSmith tools.
