by David Templeton
Monday, August 08, 2011
in Wealth Management
| Comments (0)
After today's market downdraft, the market is certainly oversold on a short term basis. The percentage of stocks trading above their 50 day moving average is now at the same level reached in late 2008, i.e., .40%. The caveat is, historically, the market has had a tendency to trade lower on a prospective basis after these low moving average percentage levels are reached.
From The Blog of HORAN Capital Advisors
Additionally, for those that are superstitious, the S&P 500 Index feel 6.66% today and...