Dan Fitzpatrick: We’ve Transitioned into a ‘Buy Weakness’ Market
- Posted by JC Parets
- on February 6th, 2012
Technician Dan Fitzpatrick did a great job this morning explaining how moving averages transition from downward-sloping smoothing mechanisms to upward -sloping. When asked about these ‘Golden Crosses’, he suggests looking at it as more of a confirmation of an uptrend rather than an initial buy signal. I couldn’t agree more.
Here is the video in full:
Source:
Technicals Signaling a Pullback (CNBC)
Tags: $SMH $XLF $SPY $FXI $SSEC
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.
blog comments powered by Disqus
-
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. More -
Recent Posts
- Is This Crude Oil Breakout For Real?
- Bull Market Fridays With Pearls
- Bullish Sentiment Drops At All-Time Highs
- Price Targets In Unchartered Territory
- Why Hong Kong Has My Attention
- Are We Seeing Rotation or What?
- Interview With Technician Mark Arbeter
- Weekly Wrap Up With Dr. Phil
- This Pattern Has Been Working
- Can Gasoline Prices Rally From Here?
-
Archives
-
Archive by Year
-
