Thursday, April 30, 2009
NASDAQ has been acting as leader in the past couple months. Today it hit the 200 EMA & SMA ,but it failed to close above it. We could have fake move up,(bull trap) for a day or two, then it moves lower.
Be smart and lock your profits before it get too late. Indices rallied over 30% in 7 weeks! As I told my readers before there is no fundamentals to support this rally, please read my article, " What Is Wrong With The U.S. Economy? "
Here is the link:
Note that if indices move above 200 EMA & SMA and stay there for a week, we are officially in bull market. I'm a strong believer in using fundamental analysis in long term investment, but speculators could jump start the bull markets. I will go long if we stay above 200 EMA.
Posted by . at 4:23 PM