By: Evan Lazarus
After the March 2009 lows were put in and the market snapped back and recaptured the 200 day MA you could clearly see the market begin to consolidate and hold above this moving average which acted as a clear level of support until the market began its next multi-month rally higher. We are now at an interesting point in time as the markets have reversed course and the exact opposite is occurring. Astute traders should continue to watch the recent price action as the futures continue to consolidate under the 200 day.
