Tag: SPDR S&P Retail ETF

S&P to See Strong Resistance near 3050

S&P broke key resistance Monday, suggesting that the multi-month sideways trading pattern had resolved itself into a new upswing. However, given the overbought conditions and looming resistance near 3050 there is no big commitment to accumulate stocks aggressively at this point. As for strategy, traders should look to reduce exposure into overbought strength

Market Internal Deteriorated As S&P Tested Key Level

market internal deteriorates as S&P moved down to test key level. The index could signal a downward trajectory, depending on how it closes over the next few days. Key support is defined by the upper boundary of the green band, around 2900. If it closes below that level, the next leg is likely lower, and we’re looking at 2800

Next Page »