SPYM, the S&P 500 ETF: the rally cools off
SPYM gains 1.1% as ADX keeps falling and residual capital rides the trailing stop
SPYM, the S&P 500 ETF: the rally cools off
Our view last week
SPYM has just completed a clean double bottom in the 85 area, bouncing 4% off the lows. The push has cooled though: 76% of this week's volume was on the sell side, the MACD histogram flipped negative, and weekly momentum has gone nearly flat. Our SPYM technical analysis reads a trend that is still bullish, but with the ADX falling for a fifth straight week. The trade, opened 15 weeks ago, remains in profit at 8.75%.
This week's summary
SPYM, the S&P 500 ETF, bounces 2% off its 20-day moving average after touching the 86 area, though on contracting volume and a fading candle body. ADX keeps sliding, now at 15.5: the trend is losing conviction week after week. The trade's residual capital, open for 16 weeks, still sits in profit at 9.93%.
IQS Phase
58
ordinary
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#87 / 120
US stocks in progress
Trade P&L %
+9.93%
from signal to date, no stop loss
Rank position
ranks 87th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorETF Broad
Benchmark ETF—
Sector regime
Performanceweekly coming soon · monthly coming soon
SPYM belongs to the etf broad sector (reference ETF ).
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