Monday, February 15, 2010

Dow Jones 150 dma

The 150 day moving average(dma) sure has been a popular spot for reversals. The S&P 500, Gold, Dow Jones, etc., all have found a floor there, this past week. Someone big(s) is buying there. Last July, the Dow Jones went down to the 150 dma and then started a 2500 pt. rally(see green arrow above July). Will it do the same this time? My gut says no, but I'm keeping an open mind to the possibility. Anything is possible.