TayFx
Short

!RSP (Equally Weighted) SP500 Bearish Bias Remains

AMEX:RSP   INVESCO EXCHANGE TRADED FD TR
By looking at an equally weighted index of the SP500 , something becomes a little more obvious. Could there be a divergence among the top say,--30 companies? If so, what would a divergence mean when you see other divergences such as the European/ Asia-pacific divergence that netted us healthy profits across 6 different inicies and economies?

Keep in mind 3,046 is the trendline for the SP500 (SPX) . Keeping an eye on this index will allow us to monitor any continuation in divergences or convergences.

01:55:37 ( UTC )
Wed May 27, 2020
Comment: This is not financial advice.

Comments

Dollar index is tanking, and I feel like if that continues, the stock market keeps pumping until the next earnings. Unless we get another corona surge of course.
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That will print 109, before 99
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TayFx azdevil
@azdevil, when?
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azdevil TayFx
@TayFx, apparently today
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TayFx azdevil
Feel free to post your TA or FA here @azdevil,
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azdevil TayFx
@TayFx, Thanks. Since the March 23rd low, Consumer Discretionary XLY has significantly outperformed the SPY, in addition these sectors have also outperformed the SPY since the low (Home Construction, Energy, Retail, Mid Cap Growth, Materials, Equal Weight S&P). That's not a good indicator from the market that its all Dire straits ahead. Ironically to those same points the SPY regained its 200 MA today while MSFT, AMZN, FB, GOOG where all down or flat on the day. There is also have unprecedented amount of stimulus - liquidity pumped into the economy, and there should be more to come. The majority of people on UE benefits are actually making substantially more than they made when working. So as the economy is now opening up, and it wont go back , you want to be long stocks and short bonds.
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