AN IMPORTANT REMINDER ABOUT MOVING AVERAGES

With this poor open, just a reminder that the 200 day moving average is still around 25,000 and the 50 day moving average which has crossed below the 200 is still way above at approximately 24,600.  The DOW is at 23,100 as we write this. That is a lot of territory between. This probably…probably means there is some more time and price, some more choppiness, some more back and forth before markets can possibly break the recent lows again. Just remember that when we called that first low around October 30, it took over 7 weeks to break that low because of how stretched, extended and oversold things were. Of course, the recent lows can turn out to be THE lows BUT have seen nothing to indicate that as of yet.