Posted on 06/03/2012 5:35:43 PM PDT by John W
Monday’s trading will be the first opportunity stock investors in the U.S. will have to act on a major technical violation that occurred at Friday’s close: The breaking of the 200-day moving average.
This could result in an avalanche of sell signals hitting the market at Monday’s open, since many technical analysts use the 200-day moving average as the dividing line between bull and bear markets. They consider the primary trend to be up so long as the market is trading above its 200-day moving average, and that this trend turns to bearish whenever the market closes below this average—and that is what happened at Friday’s close.
(Excerpt) Read more at blogs.marketwatch.com ...
Market will sell off early, bargain hunters will come in the afternoon, averages may well end unchanged.
And...if it doesn’t happen, the impact on this pundit’s credibility will be exactly zero.
S&P 500 Futures down 9.1 to 1264.80 at 8:42 pm est.
And hopefully they’ll all be buying metals.
I dunno. The Nikkei dropped 200 and then stopped. It will probably boost up to -50 by 2 pm Tokyo time.
Europe will by the true domino. If European indexes plummet more than 2%, they might keep going. If that happens, nothing will stop DJIA from doing the same. I don’t think it will be that bad though.
Nikkei looks like it’s trending up.
Oh, and I forgot to say, THANKS OBAMA.
If Obama wins...bid your future buh-bye.
If Romney wins (and I am no Romney fan) we will have dodged a bullet.
The markets will run wild until the future becomes at least somewhat predictable.
Agree. Might be Tuesday. IMO huge move up in short order. Only real return in equities now.
There is much unpleasantness ahead no matter what anyone does; it’s gone beyond the point of no return.
If Romney wins, and conservatives manage to effectively hold his feet to the fire, we may have something vaguely recognizable in a decade or so.
If The Won wins, it’s a millenium of Dark Ages ahead.
ping
If he can offer some assurance to small business owners that he will not rape them...and if he will open the Keystone Pipeline and encourage the shale oil and natural gas industry...the economy will jump upward.
America is primed for a great leap forward. It is not primed for a great socialist leap backward!
Oh, and I forgot to say, THANKS OBAMA.
And thank Bush for giving us Obama. Pray we don’t have another stock market crash like the one in the final month’s of Bush’s disastrous presidency. And pray that if Romney wins, he governs like Reagan instead of the “compassionate conservative” - i.e. idiot son George Bush.
We need a real GDP increase of about 50% in the next two or three years; I don’t think that’s humanly possible.
Yep, he gets paid for his opinion — right or wrong. Never take investment advice, from someone who still has to work for a living.
Market futures sharply in the red.
Sounds like Mark Hulbert is short the market. The 200 day MA is not that significant.
“And pray that Romney wins, he governs like Reagan instead of the “compassionate conservative” - i.e. idiot son George Bush.”
Too late. The Bush’s were early supporters of Romney. Romney seems to be in the same mold of a social moderate. (Bush was however a good war leader, and loved by the troups.)
Best pray for a major takeover of Congress by Conservatives. We’ll need someone to hold Romney’s feet to the fire. Heck in the 1990’s a conservative Congress led by Newt even made Clinton look good!
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