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The Crazy 88s

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I took a step back this week and looked at a longer view than I normally do.

The following is the weekly SPX close since 1990 with both an 88 SMA and an 88 EMA.  I can’t think of a signal simpler than selling when price crosses down through the MAs (green arrows) and buying when it breaks up through (blue arrows).  As of 2 weeks ago, SPX has once again broken down through the 88s:

Chart1 

      Date    Close 88W SMA 88W EMA
7/26/2011    1292.28 1196.73 1217.94
8/2/2011    1199.38 1197.96 1217.53
8/9/2011    1178.81 1198.78 1216.66
8/16/2011    1192.76 1199.76 1216.12