While a rising 50-Day Moving Average (DMA) would normally not be too notable of an event by itself, when we're talking about the Financial sector, it deserves to be pointed out. After declining for 127 straight trading days, the sector's 50-DMA finally closed higher on Wednesday than it did on Tuesday. As shown in the chart below, the 127 straight days of decline was the sector's longest streak since it peaked in May 2007.
Big deal. What are the implications of this? None.
Posted by: ndmaster | April 05, 2009 at 08:42 PM