S&P 500 SPDRS NEARS DECEMBER HIGH ... Chart 6 shows the S&P 500 SPDRs (SPY) trading above its 200-day line and nearing a test of its December intra-day high at 206. Its 14-day RSI line, however, shows the SPY having reached short-term overbought territory at 70. Its daily MACD lines (below chart) are still positive, but have reached potential resistance at their November high. All of which suggests that the stock rally that started in mid-February may start encountering some selling as it nears overhead resistance. Having said that, I continue to believe that the market's technical underpinnings remain positive. Last week, I showed the NYSE Advance-Decline line reaching the highest level since last May. Other breadth indicators are in uptrends.
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Charts posted are not recommendations. They are just a sharing of information.
for intraday /ES or SPX on TOS TTM/Heikin-Ashi one min. bar, this last few up bars are not strong at all, hollow red from the last 15 bars, bulls are tired.
My comments are for entertainment/educational purpose only. NOT a trade advice.
all about oil?! lots of long bets on oil right now as she heads for a wall....last one to the 200 ma party..Im still in the sub 25$ oil camp coming soon this year to a pump near you - gotta clear the glut and no way every producer nation cooperates...