Friday, January 30, 2015

This is where we hold them, THIS IS WHERE WE FIGHT

SPY now be like...



Thanks to Marketchess for pointing this out. The 100DMA and 150DMA seems to be where the bulls and bears are now deeply engaged in bloody hand to hand fighting. I like his point how these are not an the typical periods for the moving averages. To me, this makes it more important because the herd traders aren't fighting this fight. It's the veterans fighting upfront to decide the fate of their armies.


A close up look at this last line of defense.

Bears wanna see a close below the 150DMA while the bulls want to push the bears out and over the 100DMA. Winner holds the title for at least another week before before a re-match can be called.

The market is wild, wild and crazy today. Silver is down 5.5%, Oil is trying to tag $42.xx.

Today is an interesting day.

PS. I'm punting short, ready to cut losses if bulls take back the 100DMA.

2 comments:

  1. I come here just to watch the youtube videos

    ReplyDelete
    Replies
    1. All right anon, I'll make sure to remember to throw in a video for you every now and then, haha!

      Delete

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