S&P 500 Turns Back at the 50-Day...Again

For the fourth time since the 'flash crash' in early May, the S&P 500 has tried and failed to rally significantly above its 50-day moving average.  First, it was debt concerns out of Europe (5/13).  Then it was the negative reversal following China's statement to let the yuan appreciate (6/21).  Then it was weak earnings reports from the Financials and a weak Michigan Confidence report (7/16).  Today, it was Bernanke's testimony that preceded the sell-off.  Bulls had been hoping that strong earnings would be the catalyst to take the S&P 500 to the other side of its 50-day, but so far the bears (and Bernanke) are having none of it.

 

Comments

[nfljerseyonline]

world cup jerseys on sale,we sale all kinds of sports jerseys online,women's handbags on sale,buy cheapest designer handbags,and the nike shoes we sale just at wholesale price,we are profession offer nike shoes,all of the product we sale at low price,and we offer free shipping and 7 days to u door,the more you order the big discount you will enjoy

[KZ]

Considering all the terrible economic fundamentals, what magic force is keeping the Dow above 10K ? Can we ever really expect a proper market correction to real stock values ?