50-SMA • 200-SMA Death Cross Past performance is not indicative of future returns
50-SMA • 200-SMA Death Cross
The 50-SMA crossing below the 200-SMA traders term as a death cross. Looking at the AXGN daily 3chart, you can see price action has brought the 50-SMA down to and now crossing below the 200-SMA. On the weekly chart, AXGN is looking at a Blue Ice Failure, a couple of failed highs and a bearish T-Line Run. The candle pattern (price action) on the weekly chart is also set up for a Bearish Pop Out of The Box.
Past performance is not indicative of future returns
Good Trading, Rick, and Trading Team
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SPY • SP-500
Yesterday the SPY closed below our Red T-Line Reg Channel Line for the third day in a row. The candle (price action) closed under the close of the previous candle but with a wick that suggests intraday buyers are tiptoeing around (Hammer). Yesterday was the third lower low, and lower high and price action is flirting with the 50-SMA. The longer bigger picture is that the trend is still up, but the trading trend is moving down. There is going to be big rocks and sharks in the water so navigate carefully, take it slow. Simply, ask yourself what the chart is doing that corresponds to your trading timeline. Another way to look at the trading trend is to look at the price and the T-Line, who’s leading who?
****VXX – The VXX gave back all it was gains yesterday but still in a bullish T-Line Run.
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Past performance is not indicative of future returns
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