Weekly Chart of the S&P 500 Via SPY
by Geoff Garbacz
We are updating our look at the S&P 500 via our favorite chart of SPY through Tuesday's close.
The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price above the channel. As such, bias is positive.
Second, the Erlanger Volume Swing (EVS) is at 14.82 from 13.62 . Above 0 is good and below 0 is bad. The current action is now back to positive.
Third, the Erlanger Crossover Spread (EC) Spread is at 39.70 from 42.92.
Last, the Erlanger Trend Direction (ETD) is now in uptrend.class="article">So what is an investor to do here? We would recommend nibbling on new ideas.
Positioning in our Morning Matters Portfolio off this chart and several other indicators moved to 100% cash on February 28th (see Flash Alert #446). We have started adding new buys and are 33% invested.
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