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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

3 comments

  1. Greekpunk
    Greekpunk
    October 19, 2011 at 7:44 pm

    Hi Chess,

    I continue to watch the 20 MA on the monthly chart of the SPYders that you pointed out sometime ago. How relevant is it for you at this juncture?

    Looking back it appears that the index rarely, if ever, closes below it for a solitary month. Usually, time below it is a multi-month event. With SPY tapping the 20 MA today on the monthly chart, could it be a shorting opp? Or just a stab in the dark?

    Thanks.

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    • chessnwine
      chessnwine
      October 19, 2011 at 8:22 pm

      The slope of the 20 MA monthly matters most. Too early to tell here as it smooths out. You don’t want to see price bump up against it for too long if you’re a bull.

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  2. Greekpunk
    Greekpunk
    October 19, 2011 at 9:15 pm

    Thanks for the response. Makes sense. Will keep an eye on it.

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