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Episode 122: The DOW has broken below its 50 dma and the S&P500 is hovering just barely above its.
More importantly, the S&P500 is only 0.5% above its 100 dma. If it breaks the 100 dma and doesn’t quickly recover, that’s a huge red flag because the 100 dma has been an extremely dependable support level.
That being said, this is an INCREDIBLY resilient market and two factors are in its favor:
- Volume has been extremely tame during down days, so apparently institutional investors aren’t running for the exits.
- The 10 dma is comfortably above the 100 dma…last October when the index dropped nearly 10% it was precipitated by the 10 dma breaking below the 100 dma.
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Hosted by John Pugliano. The Wealthsteading Podcast teaches 10 wealth building principles to help investors build wealth and attain personal freedom.
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Copyright © 2015 Investable Wealth, LLC. All rights reserved. This podcast is for informational purposes only and is not intended to be a solicitation, offering advice or recommendation of any security. This podcast does not intend to provide investment, tax or legal advice. The content is strictly the observations and opinions of Investable Wealth, LLC. The information in this podcast is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Investable Wealth, LLC is an investment advisory firm licensed in the State of Utah.