The King Report
M. Ramsey King Securities, Inc.
There is mucho pontificating by research types and pundits that ‘all is still well because the S&P 500 held its 200-day moving average. These people are wrong and misguided.
Long-time readers know that we regularly assert that the slope of the moving average is of paramount importance and breaches that are contra to the moving average trend carry no significance unless it is a monumental breach that will soon change the moving average trend...
...It’s clear that the 200-day moving averages, especially breaches contra to its trend, are grossly over-rated events. Historical charts verify this notion.
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