Tuesday, October 7, 2008

Today's Markets

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On the SPYs, notice the following:

-- Prices are below the 200 day SMA

-- All the SMAs are moving lower

-- The shorter SMAs are below the longer SMAs

-- Prices are below all the SMAs

-- The SPYs have lost approximately 22% since the beginning of September

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-- Prices are below the 200 day SMA

-- All the SMAs are moving lower

-- The shorter SMAs are below the longer SMAs

-- Prices are below all the SMAs

-- The QQQQ s have lost approximately 32% since the beginning of September

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The SMA picture for the IWMS has been somewhat cloudy for the last few days, but a clear picture is starting to emerge. And it isn't good.

-- Prices are below the 200 day SMA

-- The shorter SMAs are all moving lower

-- The 50 day SMA is about to move below the 200 day SMA

-- Prices are below all the SMAs