Tuesday, July 07, 2009 6:24:09 PM
** SPY CHART: GOLDEN CROSSOVER
No...not the fake one that CNBC was talking about (MA50 over MA200). The real one.
All the indexes are now having their MA50 crossed by the MA20. Very bearish and a green light for all the short ETFs.
Now, there are a couple of stocks that had their GOLDEN CROSS already a few weeks ago. They are AIG and C, and you can see what happened not long after their crossover. Not a pretty sight.
No...not the fake one that CNBC was talking about (MA50 over MA200). The real one.
All the indexes are now having their MA50 crossed by the MA20. Very bearish and a green light for all the short ETFs.
Now, there are a couple of stocks that had their GOLDEN CROSS already a few weeks ago. They are AIG and C, and you can see what happened not long after their crossover. Not a pretty sight.
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