Add a Moving average to the Mix

Now, besides the “C-Y” trendline on the Intermediate price pulse chart, we can also add the intermediate term average to our list of things to watch. That moving average is shown in blue on today’s chart. With the cash S&P500 bouncing off it’s low yesterday and closing near the high we are now challenging both lines.

Two things foremost in my mind as the challenge occurs: 1) The weekly chart is negative as it sits in “sell” mode; and 2) What constitutes a real, vice false, trendline break? I will look at the latter question in tomorrow’s post if necessary.