Wednesday, July 28, 2010

Market Closes Below 200-Day Moving Average

The Wilshire 5000 closed today at 11,529.18, .21% below the 200-day moving average of 11,553.34.  The market crossed above the 200-day moving average two days ago, and stayed there before closing below today.  The 200-day moving average is a significant technical mark, while the market is now below that technical level, the 200-day moving average is still in an uptrend, which is bullish.  Every market needs to take a day here and there to rest and consolidate, and today was one of those days.  While the market was down today, the overall fundamentals of the market are bullish.

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DISCLAIMER: I started this blog as a way for people to exchange ideas relating to investing and finance, primarily. I am in no way a professional in these areas, merely a student of the financial world. The thoughts expressed on these pages have no connection to my employer in any way. Anybody reading this blog should do so with caution, exercise their own judgment, and do their own due diligence on any financial undertaking. About Me: I reside in New Jersey with my wife and my two dogs. I have a B.S. degree in Accounting with a minor in Finance, as well as an MBA in Accounting. Currently, I am employed as a forensic accountant, and am pursuing my CPA designation. I love the stock market, and picking stocks. I spend a great deal of time analyzing market data, as well as individual names.

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