Composite moving average has in recent history taken several attempts to break into downtrend. On some occassions Fed intervention has prevented this.
In the short term expect a bounce, not break of MA. Expect another test or two, and choppy trading until either Fed intervenes to push equities higher (kicking the can down the road, this market has to come down sooner or later), or we break into a long downtrend.
In the short term expect a bounce, not break of MA. Expect another test or two, and choppy trading until either Fed intervenes to push equities higher (kicking the can down the road, this market has to come down sooner or later), or we break into a long downtrend.