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Superstock Investor

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Morning Matters:

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

May 3, 2022

The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price move below its channel. As such, bias is now negative from neutral on a weekly basis.

Second, the Erlanger Volume Swing (EVS) is at -33.11 from -28.36. Above 0 is good and below 0 is bad. The current action is negative.

Third, the Erlanger Crossover Spread (EC) Spread moves from positive to negative at -60.46 from -14.22.

Last, the Erlanger Trend Direction (ETD) remains in a downtrend.

So what is an investor to do here? We would recommend starting taking gains on shorts and stocks that have not fallen.

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