Tag: XLY

S&P Tests Inflection Point

S&P traded in narrow trading range as we’re heading into the end of the month. Technical pressures are building up as the market dances its way into an increasingly tight trading range. S&P’s 3100 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 in Overbought Consolidation

after the June massive rally, stocks digested their gains in a consolidation phase that is giving way to a pullback in the S&P. Support is strong in the 2900 area. While more backing and filling would not be a surprise, a close below that level would see a massive pickup in volatility

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