Defensive rotation below the record
SPY: technology hands over the lead as the index steps back from its record
Our view last week
Weekly technical analysis of SPY, the S&P 500 ETF: the baton changes hands. Energy jumps 7.67% in five sessions, climbing from the weakest tier to the strongest, while technology — a third of the basket — slows to 1.09%. The index works less than half a point from its record, with the MACD histogram above zero for a second week. But participation is thinning: buying falls to 27% of daily turnover, and Signal Strength stays at 7 out of 100.
This week's summary
Weekly technical analysis of SPY, the S&P 500 ETF: the rotation turns defensive. In five sessions technology — a third of the basket — sheds 3.53% and slides to the weakest tier, dragging industrials along, while healthcare (+4.33%) and energy (+2.79%) take the lead. The all-time high, touched again in mid-August, still caps the tape: the index closes its first down week after three up, 1.75% below the record. Signal Strength sits at 7 out of 100.
IQS Phase
41
ordinary
Signal Strength
7
low · fading
ATH distance
1.78%
1.78%
KPI 4
0/3
Trade P&L %
+12.70%
from signal to date, no stop loss
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