$SPXEW 200-day sma = 4112.83 at the February 12th close
vs.
4150.70 is the February 12th close,
a firmly bullish condition while the price action holds above the 200-day sma which has not taken place for more than a period of two days since October 2018
vs. 4182.83 is the intraday high of early November 2018
$SPXEW - S&P 500 Equally Weighted index daily chart is shown below -------------------
Sunday February 10, 2019 -
" Smaller stocks in the S&P 500 carrying the load in latest gain Bulls see breadth of rally as sign gains can continue"
"In a week when U.S. stocks failed to rise past their 200-day moving average, the gauge of equal-weighted stocks provided a cushion.
Broader market participation and a break-out in small and medium-sized stocks is generally welcome by analysts and is good for stock pickers, too."
$SPXEW - S&P 500 Equally Weighted index daily chart -
* 89-day ema and 50-day ema -- bullish while $SPXEW remains above, which is the current condition
* 200-day ema -- seven daily closes above, which is required for the continued bullish case
the 200-day simple moving average value area has acted as resistance since mid-October 2018
Note the 200-day sma has zero slope since early January 2019, and the bullish case needs to see this moving average eventually display an upward slope
** the lowest chart element displays the $SPXEW to $SPX daily ratio, which is generally rising since the final trading day in December 2018 ... meaning broadening participation by the 500 stocks which make up the Market Capitalization Size weighted S&P 500 index
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