Everyone take a chill pill. We are simply BOUNCING off the 50 day ma on most today
Understanding the psychology of moving averages - simple enough for a child
OMG - I keep seeing “this is it. buy the dip. low is in” type missives. Please please stop. Just look at the charts. All that is happening is a bounce from the 50 day ma on most things.
If you missed my explanation of why this usually occurs and was the likely scenario, please see below post.
And take a look at some of the charts from today. (Alphabetical order)
