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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	5/10/2008 5:50:30 PM
	Read Replies (3) of 6865

Magnetic 80? In the tool box is magnetic 65 and the markets on some charts followed the 65dma thru the last bull market. Bull markets and bear markets are different animal and have differnt sign posts as you follow them up and down. It appears to me from the chart below that the 80dma may well be the dominate moving aveage of this bear market and something that may need to be monitored. The gap left on the chart when price jumped the 80dma is the key and sets up the bollinger bands which are created around the 80dma. It this assumption is correct the top formed last week was a bear market top and the downtrend should resume. Probably with force to get was looks to be the final wave five before a larger counter rally or possible the start of the next bull market. Notice also that the rally of late has retraced 50% of the total decline of the bear market that start last fall. A typical retracement level in bear markets.

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