An average of the ETFs I track is currently giving a neutral signal, as one would expect. The 50 EMA has been providing support at 50.88 as the index itself finished the week at 51.02. I’d actually look for a close under that 50 EMA before I’d get too aggressive with my short positions. We
Tag: attitrade index
Bit of a sell-off today with the $SPY losing 1.75%. The broader market sliced through the 5 SMA, 13 EMA and 20 SMA while taking out the past 6 days of gains. I’m not too surprised in the price action as the market has been on a slow grind higher for what seems like forever.
This market seems to have no desire to move lower yet plenty suggests it should. For the bulls it’s the Wes Welker market where every 3rd and short is met with a catch and the bears get pushed aside as the end zone gets closer. The question is though just how far away is that
For those of you that are regular readers of my blog you are probably familiar with the “home cooked” index I used to call the secret sauce. Nothing special, just an average of some sectors I track. As we continue to grind higher into the close of 2010 the index is beginning to look over
The index pulled back slightly Tuesday, down to 32.68 from its yearly high of 32.94 achieved last Friday. The more recent price action has moved the index significantly away from the 20 EMA and when that’s happened in the past there’s been a pullback. In other words, it was expected to either pullback or trend
Attitrade Index At New Highs
Not quite sure what to make of this, but after today’s price action my index is at a new multi-year high. In fact, my data only goes back to January of 2006 and this is the highest level ever. The last sell signal generated was back on 8/31/10 which was quickly changed to neutral the