Tag: Industrial Select Sector SPDR ETF

Path With Least Resistance Remains Higher As Long As S&P Holds Above 2900

S&P shifted to consolidation mode after the late March rally stalled at the lower boundary of the red band. Market internal has weakened but downside momentum does not appeared strong enough to generate widespread breakdowns. While seemingly vulnerable to some short-term weaknesses, the path with least resistance remains to the upside as long as the index holds above 2900

S&P Dances into Increasingly Tight Trading Range

there is a consolidation near the important sentiment 2900 zone. Technical pressures are building up as the market dances its way into an increasingly tight trading range. S&P’s 2866 marks the inflection point. A failure to hold above key level indicates a change in sentiment and a much deeper pullback should be expected

S&P Seems Vulnerable to Short-term Setback

S&P is in a holding pattern as traders wondered whether more gain is warranted given the massive advance over the past months. While market seems vulnerable to some downside retracement over the short-term, we’re long-term positive for S&P as we believe selloff would be shallow and quick

Real Danger in Current Market

market internals had been weakened as S&P moved down to test support at the early February bullish breakaway gap. The longer the index stays near that level, the more vulnerable it is to lower prices. This is the real danger in the current market

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