Big correction may be at hand. Too many bad stars alinging..
1. Omicron scare
2. Inflation
3. Tax loss selling season
4. Fed looking to continue if not speed up tappering
5. Biden spending too much $ at the wrong time
6. Supply chain issues taking too long to clear up
The last 3 days already wiped out the lasst 4 weeks of gains.....
Hold onto your beers cause water is going to get rough in the coming weeks [Reply]
We are coming up on the 50-day SMA for the SPY. Got a feeling we are going to smash through it and head to the 200. We broke through the 50 in September and never hit the 200. This time I think we will. [Reply]
Originally Posted by petegz28:
We are coming up on the 50-day SMA for the SPY. Got a feeling we are going to smash through it and head to the 200. We broke through the 50 in September and never hit the 200. This time I think we will.
Originally Posted by petegz28:
Big correction may be at hand. Too many bad stars alinging..
1. Omicron scare
2. Inflation
3. Tax loss selling season
4. Fed looking to continue if not speed up tappering
5. Biden spending too much $ at the wrong time
6. Supply chain issues taking too long to clear up
The last 3 days already wiped out the lasst 4 weeks of gains.....
Hold onto your beers cause water is going to get rough in the coming weeks
Originally Posted by chiefforlife:
What does this mean?
Simple Moving Average. It's a technical indicator. So a simple moving average of the last 50 days. So in an up market it will lag the market and is used in the industry as an indicator of a trend change.
Agreed on everything Pete said. I’m only invested 20% currently in trading account. Won’t expose myself more until we see a possible end to this red. [Reply]