AI
Thursday, February 25, 2010 6:18:24 AM
Re: SPY and S&P 500's SML & MID - BEARISH
SPY faces significant resistance at upper border of bearish channel. Correspondingly, RSI weakens at that same level, where it fails to cross over its 60-level, suggesting heavy bearish pressure as this weeks concludes.
Regardless of the capitalization level of the S&P companies, this resistance appears to be endemic. For instance, notice how the WEEKLY charts of S&P 500's Small Caps ("$SML") and mid-caps ("$MID") below are heading towards same resistance.
SPY (S&P 500 SPDRs) - 36-Mo., Weekly Chart:
$SPX - $SML - 36-Mo., Weekly Chart:
$SPX - $MID - 36-Mo., WEEKLY Chart:
- Dalcindo
SPY faces significant resistance at upper border of bearish channel. Correspondingly, RSI weakens at that same level, where it fails to cross over its 60-level, suggesting heavy bearish pressure as this weeks concludes.
Regardless of the capitalization level of the S&P companies, this resistance appears to be endemic. For instance, notice how the WEEKLY charts of S&P 500's Small Caps ("$SML") and mid-caps ("$MID") below are heading towards same resistance.
SPY (S&P 500 SPDRs) - 36-Mo., Weekly Chart:
$SPX - $SML - 36-Mo., Weekly Chart:
$SPX - $MID - 36-Mo., WEEKLY Chart:
- Dalcindo
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