After closing below the 50 day EMA on the first day of the week, the daily bar chart pattern of S&P 500 resumed its rally and crossed briefly above its 200 day EMA for the first time in more than 2 months on Fri. Mar 4.
Late profit booking ensured that the index closed exactly at its 200 day EMA - with a gain of 2.7% on a weekly closing basis.
Is the correction over? It appears so - though a convincing move above the 200 day EMA is required for a technical confirmation.
-- Late profit booking ensured that the index closed exactly at its 200 day EMA - with a gain of 2.7% on a weekly closing basis.
Is the correction over? It appears so - though a convincing move above the 200 day EMA is required for a technical confirmation.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/03/stock-index-chart-patterns-s-500-and.html
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