The war of the bulls and the bears has a couple of battle lines that may not be ceded easily. The S&P 500 broke below its August high and its 50-day moving average on Wednesday. However, the bulls pushed back hard and drove the S&P 500 back above these resistance levels. As I’ve said before, I’m not much of technical analyst, but these lines are helpful in identifying where buyers and sellers are.
The battle of bulls and bears is what is called price discovery. As the forces of supply and demand wrestle, a price is determined. Tomorrow, will be a new battle.lines across the 4545 level and the 50-day moving average.Subjective Value: Of course, there are many reasons to buy and sell a stock outside of just valuation formulas. And new information, such as the loss or gain of a major client, could result in a change of valuation. Thus, the value of a stock can be subjective to many investors, which is one reason why you can see buying and selling at various prices and not just at certain valuation prices.Many money managers buy or sell an investment position that could be millions or even billions of dollars.
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