Zignals: S&P Moving Average Behavior revisited
My latest Zignals post is up. The summary of the analysis was as follows:
We are likely a couple of weeks from a bottom, but it is not impossible for this to take longer
During this period the market will see sharp losses, perhaps trimming 10-20% off where the markets lie now (Monday will be the start)
The subsequent rally will be short lived and will morph into a retest of the low
The retest will be the time to buy heavy
A significant bull market has a good chance of emerging from the quagmire - remember markets lead economic news.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website