The odds are pointing to a short-term bottom in stocks and it could be a good time to pick up your favorite beaten down stock and ETF on your WishList.
How long such a rally lasts will be determined by the strength of the buying in the coming week.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
Tuesday, May 15, 2012
Buy Signal on the S&P 500
The SPDR S&P 500 ETF ($SPY) that tracks the major US index is on the brink of generating an RSI Crossover Buy Signal. This occurs when the RSI reading crosses from oversold back into neutral territory. The last few times this has happened the $SPY and overall market rally for at least a week.
The odds are pointing to a short-term bottom in stocks and it could be a good time to pick up your favorite beaten down stock and ETF on your WishList.
How long such a rally lasts will be determined by the strength of the buying in the coming week.
The odds are pointing to a short-term bottom in stocks and it could be a good time to pick up your favorite beaten down stock and ETF on your WishList.
How long such a rally lasts will be determined by the strength of the buying in the coming week.
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