- Posted May 9, 2012 by
Dow reverses at Andrews Median Line
Today in the Dow the prices went to the median line and reversed. In the S&P and the Russell there are strong indications that the down trend is over and the movement to the upside is about to continue.
Bonds, and some stock indices hit a Babson reversal point. This is what occurs prior to a long move in the opposite direction.
The ECB is opening the checkbook to protect their bond purchases in Greece and all is well again. With Bonds , the Russell index and SPY showing reversal signals the down move is probably over. The pattern in the Russell for example indicates that if today’s lows hold, then there will be new highs by the end of the month. This would disappoint many sell in May and go away slogan lovers .