Tag: Industrial Select Sector SPDR ETF

S&P Overbought and Due to Consolidate

S&P is overbought and due to consolidate. Nevertheless, the overall technical backdrop remains positive so pullback should be shallow and quick. With that said, while some backing and filling would not be a surprise, if the S&P could pause and hold above 2730 then a move above 2800 would be easier to be sustained

S&P in Bullish Digestion Period

the big picture remains the same. There is a consolidation near the trend channel moving average, which represents a bullish digestion period. While more backing and filling would not be a surprise, if the S&P could hold above 2600 then a move above 2700 would be easier to be sustained

S&P Broke Key Resistance but Follow-through is Key

S&P cleared key technical resistance, breaking above the trend channel moving average. Nevertheless, it will be important to monitor the rally and retreat behaviors over the next few days to determine whether breakouts are decisive. We’d turn particular bullish if the S&P closes above 2630 on a weekly basis

Next Page »