Stocks down but not out, Building Wealth, Investing, Retirement, Stock Trading, Freedom, Liberty, Life, History

Episode 120:  The S&P500 is again back below its 50 day moving average (dma)- not a good sign; however, today it did recover much of the morning’s losses closing in the upper 1/3 intraday range.  Also, volume has been well below average during the most turbulent trading of the past week.  So it’s a 50/50 call as to whether the index breaks down or up this week. The 100 dma has been a strong support level for this market.  Since January, support has only been narrowly breached 5 times.  Presently the S&P500 is just below its 100 dma.  For right now, that’s the key indicator- if support fails, it will most likely drop to the 200 dma around 2048.  [As a reference, YTD the index has never dropped more than 0.75% below the 100 dma.] Friday is options expiration, which could set the stage for a steeper drop in well above average volume, especially is fears over Greece continue. -------------------------------------------------------------------------------------------------------------------- Subscribe to the Wealthsteading Podcast: via iTunes:  https://itunes.apple.com/us/podcast/wealthsteading-podcast/id896417058 via STITCHER:   http://www.stitcher.com/s?fid=53115&refid=stpr Hosted by John Pugliano. The Wealthsteading Podcast teaches 10 wealth building principles to help investors build wealth and attain personal freedom. For more information visit us at: www.wealthsteading.com or www.investablewealth.com 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.