Weekly Timing Chart Of The S&P 500
This morning we are updating our look at the S&P 500 via our favorite chart of SPY. Over the last week, from 10/30 close through 11/06 close the S&P 500 was higher by 2.70%.
The first thing we notice is that the weekly Displaced Moving Average (DMA) Channel sees the price still below the channel which means that the bias is still negative.
Second, the Erlanger Volume Swing (EVS) is at -16.02 from -30.03 last week. Above 0 is good and below 0 is bad. So currently, it is below zero trying to bottom from lower levels.
Third, the Erlanger Crossover Spread (EC) Spread is at -38.35 from -103.21 last week.
Last, the Erlanger Trend Direction (ETD)moves to rally from downtrend as it is now green in the lower half.
So what is an investor to do here? We would recommend to stay with strong stocks and begin to nibble on weaker stocks in rally mode on the ETD. Several indicators remain weak which is why we adjusted how we add to positions. Begin to build a shopping list of new ideas to buy in addition to nibbling.
Get the information you need to make profitable decisions first thing in the morning. Access to the information is FREE, not knowing it could cost you a bundle!
Superstock Investor Newsletter
Published once a month. Get the big picture, what happened last month and predictions for the month ahead.
Take advantage of the knowledge provided by people who live to monitor the Stock Market. People like:
Get access to information from publications like:
Not a Subscriber?
Superstock Investor's goal is to provide subscribers a steady stream of original stock ideas with an emphasis on takeover candidates. These are companies that have flown onto our radar screens as potential takeover targets, or special situations with some catalyst promising to send their shares soaring. Continue..