Friday, June 29, 2012 9:05:56 AM
IWM_D Jun 29, 2012 SPY Holds Support for a Fifth Time - FXE Set to Surge
Stocks ended mixed on Thursday as sharp rallies in the final hour paired losses significantly. The Nasdaq 100 ETF (QQQ) still lost over 1%, but the S&P Midcap SPDR (MDY) closed up .30% on the day. The nine sector SPDRs were mixed with four up and five down. With a strong open expected today, stocks will attempt to extend the bounce that started with the early June reversal.
The Russell 2000 ETF (IWM) can be seen zigzagging higher this month with a series of rising peaks and rising troughs. Key support is set at this week’s low, which is also near the 200-day moving average.
Stocks ended mixed on Thursday as sharp rallies in the final hour paired losses significantly. The Nasdaq 100 ETF (QQQ) still lost over 1%, but the S&P Midcap SPDR (MDY) closed up .30% on the day. The nine sector SPDRs were mixed with four up and five down. With a strong open expected today, stocks will attempt to extend the bounce that started with the early June reversal.
The Russell 2000 ETF (IWM) can be seen zigzagging higher this month with a series of rising peaks and rising troughs. Key support is set at this week’s low, which is also near the 200-day moving average.
CHARTS: TREND AND MOMENTUM
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