Tuesday, August 2, 2011

A Quick Note on the Markets

The SPYs, QQQs and IWMs are all flirting with their respective 200 day EMAs and SMAs -- the line between bull and bear market. As I noted yesterday, all the equity averages are in a trading range. Watch carefully to see where the averages come out. If we see a break to the downside for two or more of the averages, we've got problems.