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50 Day Moving Average Now Support for Inverse Exchange Traded Funds
I am finding many very nice long patterns in the market lately. What is troubling is that some of the bullish charts are inverse exchange traded funds. SRS, SKF, DUG, and QID appear to be quietly poised at 50 day moving average support.
These have to fail here if the market is going to get back on track. The probability is for a continuation of the uptrends for these and other inverse exchange traded funds. This would mean the overall market turns down again. The market is at an important inflection point right now.
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| Market Summary | Nov 08, 2009 05:30 am ET |
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