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S&P 500
5,815.03
(
0.61%
)
US TECH 100
19,700.00
(
-0.02%
)
Dow Jones
42,863.86
(
0.97%
)
Brent Oil
78.70
(
0.00%
)
Bitcoin
62,769.40
(
-0.67%
)
Post# of 148479
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Must Be Patient

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Must Be Patient

Re: maitri post# 146593

Thursday, 05/07/2009 2:56:31 PM

Thursday, May 07, 2009 2:56:31 PM

Post# of 148479
I think of TA as self-fulfilling prophesy as people position themselves in the expectation of the TA being right. From that perspective, it would make sense for the market rally to fall just short of the actual 200-dma as people start taking profits a bit ahead of the crowd.

Also of note is that NDX is testing its 200-dma from above today.
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