The reason this 100 SMA is so important is that. Take a look at this chart here.  it has been tested time and time again and it HELD!  How many times..  and for how long?

It was this 100 SMA made this move go.  so don’t you think this MA is important? yes. VERY.  If you are a day trader, this shouldn’t matter but for swing or position traders, this is one piece of importation that’s going to save your capital.

6/27 Wednesday Update: We Broke 100SMA!

Wow wutta suprise. We broke 100 SMA today with huge bearish candle.  Before we go bearish heavy with our triggers lets look at the chart pattern because i think we might be forming a channel

$385 MUST BE BROKEN BEFORE GOING BEARISH- MAJOR PIVOT

Looking at the chart pattern looks like $385 area is going to the pivot before the free fall.  That would be my entry for bearish if we can break that pivot area.  I wouldn’t just chase after this. Just because we had huge bearish day it doesn’t mean we are going to continue so trade with caution.

Usually after long days like that, you willl see some sort of retracement but if we continue to trade bearish tomorrow, watch out for WHIPSAWS, it could head fake and go right back up after poking it head below that pivot area.

6/29 Closing Update

200 SMA to Watch Out

BBands, MACD, ADX all looks bearish.  RSI showing slight bullishness.

Question is are we able to get to that UPTREND Line (look at the post up top) or are we going to reverse?

We don’t have definite signal yet so we just have to wait.