9 and 20 month EMA in years2000 , 2008 2019
In considering whether or not we are currently in a bear market rally or higher highs are in the offing , it might be helpful to look at today's price of SPY compared to its price in the last two major bear market rallies of 2000 and 2008, in the context of the 9 and 20 monthly EMA's .
In both 2000 and 2008 bear market rallies , ie Jan. 2001 and May 2008 respectively , we see the 9 month EMA definitely sloping down . the current month , March 2019 , the 9 month EMA is sloping upwards .
Also, in both Bear market rallies of Jan. 2001 and May 2008 , SPY price is decidedly below a flattening or down turning 20 month EMA . The current month , of March 2019 , sees price well above a rising 20 month EMA.
In addition , in the previous bear market rallies of Jan. 2001 and May 2008 , we see the 9 month EMA crossing the 20 Month EMA in both instances . Whereas , in our current ," potential "bear market rally, there is no cross of the 9 month below the 20 month EMA. On the contrary , as of March 12 , 2019 , both the 9 month EMA and 20 month EMA are sloping upward , with no cross imminent .
If , as of March 2019 , this move off of the Dec. 24 , 2018 low is merely a bear market rally , price in relation to those important monthly EMAs and the slope and posture of those important , monthly EMA s is not validating that assertion .
In both 2000 and 2008 bear market rallies , ie Jan. 2001 and May 2008 respectively , we see the 9 month EMA definitely sloping down . the current month , March 2019 , the 9 month EMA is sloping upwards .
Also, in both Bear market rallies of Jan. 2001 and May 2008 , SPY price is decidedly below a flattening or down turning 20 month EMA . The current month , of March 2019 , sees price well above a rising 20 month EMA.
In addition , in the previous bear market rallies of Jan. 2001 and May 2008 , we see the 9 month EMA crossing the 20 Month EMA in both instances . Whereas , in our current ," potential "bear market rally, there is no cross of the 9 month below the 20 month EMA. On the contrary , as of March 12 , 2019 , both the 9 month EMA and 20 month EMA are sloping upward , with no cross imminent .
If , as of March 2019 , this move off of the Dec. 24 , 2018 low is merely a bear market rally , price in relation to those important monthly EMAs and the slope and posture of those important , monthly EMA s is not validating that assertion .
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