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Weekly Chart of S&P 500
The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) of the S&P 500 sees the current price now in its channel as stocks are mixed. As such, bias is neutral on a weekly basis.
Second, the Erlanger Volume Swing (EVS) is at 17.48 from 10.65 last week. Above 0 is good and below 0 is bad. The current action is now positive.
Third, the Erlanger Crossover Spread (EC) Spread moves to 16.63 from 72.08.
Last, the Erlanger Trend Direction (ETD) moves from uptrend to pullback.
So what is an investor to do here? We would recommend taking partial new positions on longs and look to add some shorts with tight stops if the rally fades.
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