Don't Ignore This Chart!

Dow Reclaims Two Key Moving Averages

 | 

With a surge back above 8500 this week, the Dow Industrials reclaimed the upper ground on the 50-day and 200-day moving averages. Also notice that the 50-day SMA moved above the 200-day SMA. This is also knows as a golden cross. Even though these are positive developments, keep in mind that moving averages lag and signals can be prone to whipsaws. 

090717indu
Click this chart to see more details.

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus