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Stocks Dangerously Testing Key Technical Levels (50 day moving averaged broken)
Wall St Journal Blog ^ | 06/20/2013 | Steven Russolillo

Posted on 06/20/2013 6:28:25 PM PDT by Kid Shelleen

Another big stock selloff has pushed the S&P 500 below its 50-day moving average, putting it in dangerous technical territory. Chart watchers have been fixated on this technical level as a key gauge for the market’s near-term trend. It has repeatedly acted as key support throughout the year, time and again proving to be a good buying opportunity once it’s been hit.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 06/20/2013 6:28:25 PM PDT by Kid Shelleen
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To: Kid Shelleen

Not to worry ... technical analysis is meaningless with this Keynesian monkey running the circus!

2 posted on 06/20/2013 6:34:05 PM PDT by Zakeet (If idiots could fly, Washington would be an airport)
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To: Kid Shelleen

The markets are down now all over Asia, too.

http://finance.yahoo.com/intlindices?e=asia


3 posted on 06/20/2013 6:37:45 PM PDT by Cicero (Marcus Tullius)
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To: Kid Shelleen

Right now, the DJIA futures are up a hair, +2.30 (.15%)

The S&P futures are down a hair, -1.00 (0.01%)

The NASDAQ futures are WAY down, -76.25(-2.58%)


4 posted on 06/20/2013 6:38:17 PM PDT by Signalman
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To: Kid Shelleen
It's just a convenient excuse for large-scale profit taking. Most people think the market could safely pull back to the DJIA 12,500 to 13,000 range without risking a major crash.

I still do think that reigning in the high-speed traders and overhauling the income tax code to make it no longer a major impediment to economic growth is the best way to grow the economy again.

5 posted on 06/20/2013 6:42:47 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: Kid Shelleen

I thought the markets operated using “efficient market theory”?

Nobody saw the Fed stopping the large scale purchase of bonds at some point? Why this is a shock to anyone is beyond me.


6 posted on 06/20/2013 6:47:12 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Zakeet

“technical analysis” is meaningless when the market is rigged.


7 posted on 06/20/2013 6:48:04 PM PDT by glorgau
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To: Cicero

Hasn’t gold been tanking too?


8 posted on 06/20/2013 6:48:17 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2

I noticed that too. Markets are tanking, rates are rising, yet gold is also down. One would intuitively think that gold would be a safe haven.


9 posted on 06/20/2013 6:53:37 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Why are gold prices falling?

http://finance.forumsee.com/a/m/s/p12-26044-068956—understanding-why-the-gold-price-falling.html


10 posted on 06/20/2013 6:56:59 PM PDT by Signalman
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To: dragnet2

Yes. Stocks are tanking, bonds are tanking, and gold is tanking. Gold really crashed today, and now it’s down more in Asia—below the 1280 level where some people were hoping it would finally bottom.


11 posted on 06/20/2013 6:59:36 PM PDT by Cicero (Marcus Tullius)
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To: Signalman

Tomorrow is triple witching, coupled with the threat of the fed possibly reeling in the moneterization. Then again, who knows. There’s three ways to increase today’s balance sheet, increase revenue, cut operating costs, or both. There’s nothing left to cut, and there is no revenue. Rates will go up, so all the free lending / borrowing is going to end. Its a crap shoot.


12 posted on 06/20/2013 6:59:58 PM PDT by guyfromjrz (fresh breath, it speaks for itself.)
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To: Kid Shelleen

13 posted on 06/20/2013 7:02:35 PM PDT by RobertClark (My shrink just killed himself - he blamed me in his note!)
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To: Cicero

Hmmm...


14 posted on 06/20/2013 7:13:03 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Red in Blue PA

Rates keep rising, what little housing recovery occurred, will be eaten alive imo.


15 posted on 06/20/2013 7:15:16 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Red in Blue PA

Treasuries down and gold up would mean head to your bomb shelter.


16 posted on 06/20/2013 8:02:53 PM PDT by gotribe (Limit The Government's Right To Bear Arms)
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To: Zakeet; All
Did you watch Neil Cavuto today?
17 posted on 06/20/2013 8:05:39 PM PDT by Chgogal (Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
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To: Chgogal
Did you watch Neil Cavuto today?

Nope. Miss anything?

18 posted on 06/20/2013 8:18:04 PM PDT by Zakeet (If idiots could fly, Washington would be an airport)
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To: Red in Blue PA

The so-called “efficient market theory” has been dead for quite some time. Anecdotally, consider Countrywide, Freddie Mac, and Fannie Mae stocks in 2005 and 2006 for starters. They were dead men walking for years after it was absolutely clear that the housing bubble was peaking for the many obvious and predicted reasons, and months after it was absolutely clear that the bubble had in fact burst.


19 posted on 06/20/2013 8:23:50 PM PDT by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: Zakeet
Neil, was just wondering why Obama fired Ben on nationwide TV during the Charile Rose show. He showed the clip where Obama says, that Ben stayed longer then he was supposed to.

After showing the clip, Cavuto, Gaspirino and Francis discuss how forth coming Ben was yesterday. Gasparino was shocked that (1) Obama's statement about Ben was so harsh/public (considering Ben's pumping help reelect him) and (2) that Ben put all his QE cards on the table yesterday with, for the Fed, such great clarity. Cavuto, smiled and ended the discussion saying that if your going to fire an employee make sure you have his security id and that he has no weapons.

20 posted on 06/20/2013 8:31:19 PM PDT by Chgogal (Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
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To: Chgogal

Has Cavuto ever said anything negative about The Won?


21 posted on 06/21/2013 2:08:29 AM PDT by JohnnyP
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To: Chgogal
Who knows why Obungler does anything that he does?

The Bernack is on his way out, but who is going to take his place ... someone that's not just as bad? Who wants to put their name on the world's unfolding financial train wreck; who can change its outcome at this point; which viable Fed Chairman candidate will admit that central planning cannot work, Keynesian economics is a complete disaster, fiat currencies always fail, and that the Fed should be abolished?

We're living in historic times. Interesting ... terrifying ... and historic.

22 posted on 06/21/2013 2:30:04 AM PDT by Zakeet (If idiots could fly, Washington would be an airport)
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