http://thekeystonespeculator.blogspot.co.uk/2015/03/bac-bank-of-america-daily-chart-death.html
"The banks
explode higher today after the stress test results with the exception of
one skunk at the garden party; Bank of America. The 50 MA drops under
the 200 MA creating a death cross pattern albeit by one penny. Seasoned
technicians do not pay much attention to golden crosses (50-day MA up
through 200-day MA) or death crosses since price typically reverses once
the cross occurs, although in the longer run for the weeks or couple
months forward price will typically obey the cross. The golden cross
occurs in October to signal bull times ahead and look at how price falls
like a stone, however, price recovers and does print a high to begin
the year. This is what typically happens"
"The banks
explode higher today after the stress test results with the exception of
one skunk at the garden party; Bank of America. The 50 MA drops under
the 200 MA creating a death cross pattern albeit by one penny. Seasoned
technicians do not pay much attention to golden crosses (50-day MA up
through 200-day MA) or death crosses since price typically reverses once
the cross occurs, although in the longer run for the weeks or couple
months forward price will typically obey the cross. The golden cross
occurs in October to signal bull times ahead and look at how price falls
like a stone, however, price recovers and does print a high to begin
the year. This is what typically happens"
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