All Major Global Equity Markets Close Below Their 50-day M.A.
Posted By Global Macro Monitor On May 24, 2011 @ 1:00 am In Technical Analysis,Think Tank | Comments Disabled
What a difference a trading day makes. As of Friday’s close only seven of the fourteen major global indices that we track were below their 50-day moving averages. As of today, they all are. The S&P500 [1], Dow [2] (just barely), Nasdaq [3], all three European, and the Korean Kospi [4] broke their 50-days. The Hang Seng [5] and Shanghai [6] fell sharply to close below their 200-day moving averages.
Some positives were the VIX, after opening at 19.55, traded lower almost all day. The S&P500 filled the April 19-20 opening gap [7] at 1312.70-ish and held. The BOVESPA and Mexican Bolsa were able to muster impressive bounces off their opening lows. And, finally, Apple [8], after probing the key support level of $327.50, closed up $5 off its low of $329.42. Given the attack of the Macro Swans [9] and lack of upside catalysts, tough to see how we bounce big here, other than some nutcracking short covering. Let’s see what Turnaround Tuesday brings us. (click here [10] if table is not observable)
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Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/05/all-major-global-equity-markets-close-below-their-50-day-m-a/
URLs in this post:
[1] S&P500: http://finance.yahoo.com/q/bc?s=%5EGSPC&t=5d&l=on&z=l&q=l&c=
[2] Dow: http://finance.yahoo.com/q/bc?s=%5EDJI&t=5d&l=on&z=l&q=l&c=
[3] Nasdaq: http://finance.yahoo.com/q/bc?s=%5EIXIC&t=5d&l=on&z=l&q=l&c=
[4] Kospi: http://finance.yahoo.com/echarts?s=%5EKS11#symbol=%5Eks11;range=1y;compare=;indicator=sma%2850,200,0%29+volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=;
[5] Hang Seng: http://finance.yahoo.com/echarts?s=%5EHSI+Interactive#symbol=%5Ehsi;range=1y;compare=;indicator=sma%2850,200,0%29+volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=;
[6] Shanghai: http://finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=1y;compare=;indicator=sma%2850,200,%29+volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=;
[7] April 19-20 opening gap: http://macromon.wordpress.com/2011/05/16/sp-500-three-key-support-levels/
[8] Apple: http://finance.yahoo.com/echarts?s=AAPL+Interactive#symbol=aapl;range=5d;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;
[9] Macro Swans: http://macromon.wordpress.com/2011/05/22/week-in-review-the-power-of-zero-v-macro-swans/
[10] here: http://macromon.wordpress.com/2011/05/23/all-major-global-equity-markets-close-below-their-50-day-m-a/
[11] Image: http://macromon.files.wordpress.com/2011/05/what-a-diiference-a-day-makes2.jpg
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