S&P’s oversold rally ran out of steam near 2500. A failure to move above key resistance means that most of the potential buyers at this level had already placed their bets. The next batch of buyers typically sits at a much lower level. On balance, we remain near term negative for S&P as we believe market vulnerable to further downside retracement over the short-to-intermediate term.
Day: January 4, 2019
This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for January 4, 2019. SPDRs Report is the daily, weekly and monthly technical overviews and analysis for major indices, key sectors, commodities ETFs. This information is a comprehensive summary derived from our proprietary trading system.