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Strategies & Market Trends : General market lab and commentary

SPY 683.41

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Nov 3 4:00 PM EST

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From: Robohogs	7/19/2016 2:20:33 AM
	of 668

Fact of the Day: Everyone is focused on the 200 SMA in XBI. It means nothing! Nothing. It has never crossed up for the first time in 200 days and held. Ever. It is usually the 3rd or 4th cross that is the charm. And crosses without a cross down in the last 100 days (last cross down was 202 days ago), have good quick returns but poor long term results, even the cross that ended the 2008/09 bear. It took several months for that cross to clear for good and mkt to move higher. Jon

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