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Morning Matters:

Weekly Chart of the S&P 500 Updated
by Geoff Garbacz

June 15, 2021

We are updating our look at the S&P 500 via our favorite chart of SPY through Monday's close.

The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price above its channel. As such, bias remains positive.

[Image 1]

Second, the Erlanger Volume Swing (EVS) is at 15.67 from 6.85. Above 0 is good and below 0 is bad. The current action remains strong.

Third, the Erlanger Crossover Spread (EC) Spread is at 23.79 from 10.77 and remains slightly in downtrend status.

Last, the Erlanger Trend Direction (ETD) remains in an uptrend.

class="article">So what is an investor to do here? We would recommend locking in some big winners and sit on cash for now until the recent volatility calms down.

Positioning in our Morning Matters Portfolio off this chart and several other indicators moved to 100% cash on February 28th, 2020 (see Flash Alert #446). We have started adding new buys and are 67% invested.

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