US indices · Buy signal, week 17
SPY ETF: technology reignites the S&P 500 right at the record
US indices · Buy signal, week 17
Our view last week
The SPY, the S&P 500 ETF, is pushing back toward its record: the daily has bounced 2% off its 20-day average and buyers account for more than 83% of turnover. Weekly technical analysis tells the other half of the story — the MACD histogram has slipped below zero and ADX is losing conviction. The gain since entry climbs back to 9.94%, with the all-time high less than 2% away. A mature uptrend, inside a rotation that now rewards consumer cyclicals.
This week's summary
Weekly technical analysis of SPY, the S&P 500 ETF: after two weeks of cooling, the engine fires again. Technology, a third of the basket, gains 7.20% in five sessions and returns to outperforming the index, the MACD histogram climbs back above zero, and buying accounts for nearly 85% of turnover. The gain since the signal rises to 13.81%, with the record less than half a point away. Our own indicators stay cautious, though: Signal Strength has slipped to 7 out of 100.
IQS Phase
69
in tension
Signal Strength
7
low · fading
ATH distance
0.46%
0.46%
KPI 4
0/3
Trade P&L %
+13.81%
from signal to date, no stop loss
restricted Platinum content