themarketzone

This is what happens when the 200 SMA line breaks

FX:SPX500   S&P 500 index of US listed shares
This is what happens when the 200 SMA line breaks and there's no Fed coming for rescue (summer vacation?.. ).
Last time it happened, in October 2014, the Fed helped by suggesting QE             won't end (which eventually it did..)

1. The squeeze I mentioned in my Weekly Markets Analysis - Price was squeezed between the 200 SMA line (support and the 2100 resistance zone with the 50 SMA line (resistance).

2. The breakdown and the close below the 200 SMA line.

3. The 200 SMA line was tested from below and held as resistance for the time

The RESULT - 100 Points decline in $SPX            
Special ECB preview - https://goo.gl/hZMkYY

Tomer J,
The Market Zone - You trading Edge
Visit my website - http://www.themarketzone.net/
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agreed....some don't want to believe in the death cross.......I'm a believer..
+1 Reply
themarketzone PRO Rob Wallace Williams
a year ago
People are still trying to find some uptrend lines that will save them.. I say it is final.. Even if they'll manage to rally I'd still prefer to be a seller than a buyer.
Reply
aime
a year ago
Death cross has the last word
+1 Reply
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