Dan Fitzpatrick: We've Transitioned into a 'Buy Weakness' Market
February 6, 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