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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday, 12 November 2011

XLF

could rally further to the 200 dma but the trend is down

 
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3 comments:

  1. valunvstr13 November 2011 at 00:49

    From March to July of 09 the 200 day was sloping down too. Not sure of the point that is trying to be made. If one waits for it to turn up they will have missed many market turns. As an aside, I am bearish long term. I just don't see how the slope of the 200 day is meaningful unless combined with other analysis. Maybe a few other bearish indicators to confirm the slope of the 200 day would make for a bit more powerful post. JMO.

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  2. Chartrambler13 November 2011 at 01:10

    well we also have a double top and broke the intervening swing low so all in all not an inspiring picture.I posted some more immediately bearish charts eg BARC,RBS.I looked at XLF because I saw John Person was bullish and wanted to see if I was missing something

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  3. Chartrambler13 November 2011 at 01:16

    normally if the 200 dma turns down after a bearish pattern break (eg HnS or double top) it is pretty reliable.(similarly if it turns up after a bullish pattern break)

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