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Morning Matters:

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

August 31, 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 17.20 from 4.89. Above 0 is good and below 0 is bad. The current action remains positive.

Third, the Erlanger Crossover Spread (EC) Spread moves from pullback back to uptrend status.

Last, the Erlanger Trend Direction (ETD) remains at uptrend phase.

class="article">So what is an investor to do here? We would recommend starting to lock in nice gainers and look for bargains.

We have started adding new buys and are 84% invested.

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