Tag: XLY

S&P Broke out from Sideways Trend

S&P broke key resistance Wednesday, signify a bullish breakout and upside reversal. Breakout target is around 2700-2740. Nevertheless, it will be important to monitor the retreat and rebound behaviors over the next few days to determine whether breakouts are decisive

S&P Extremely Oversold but Upside Reward Could be Limited

the S&P is extremely oversold following recent decline. Like a rubber band, stocks tend to snap back to the mean if they have dropped too far from the “fair” value. With that said, if lower stock prices create some values for investors, then, given everything being equal, the market should be able to find some buyers. However, give the significant damage that had been done over the past weeks, upside reward could be limited

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