Stock Market Update
If you read my comments from last week regarding the stock market, you would know that I was warning of a pullback based on the bearish engulfment that had formed. Since that post the market has had its largest decline in over 2 months. The market is now approaching the 50 day moving average which is why I am writing this post now because I feel it may be time to look to get long again.
I'd like to see some kind of technical buy signal take place such as a reversal day off of the 50 day moving average. Today the market put in an inside day so I will be looking for a breakout of today's range as a possible buy signal if the S&P takes out today's high.
Keep in mind that stocks tend to rally as we approach the Thanksgiving holiday which is another reason why I am on alert for technical buy signals. Let's see what happens.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
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2 comments:
Hi Kevin,
When u are looking at 50DMA. Do you usually add the dividend back? or do you just go with the last 50D closing prices and disregard the dividend payout?
Joe H.
I simply use the closing prices and disregard the dividend payout because that's what most traders are looking at. Keep it simple, focus just on the closes.
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