Over the last month, we have seen the first real signs of risk coming back into the SPDR S&P 500 ETF (NYSEARCA:SPY), largely due to fears of an economic slowdown if the Fed were to put the brakes on its endless supply of quantitative easing.
Below, this is annotated on the daily chart of S&P 500 SPDR (NYSEARCA:SPY), a popular ETF proxy for the S&P 500 Index: $SPY nearing its 50-day moving average. Typically, the first pullback of a stock or index to its 50-day moving average (following a ...
If you look at a one-year chart comparing the SPDR S&P 500 ETF (NYSEARCA:SPY), SPDR Gold Shares (NYSEARCA:GLD), and the iShares 20+ Year Treasury Bond Fund (NYSEARCA:TLT), you can see that stocks have clearly been the winning trade.
Here is another chart this morning highlighting short-term levels to watch on the SPY chart. This morning the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is set to challenge short-term Resistance 2 at $163.81 in the pre-market, let's see if it can push above it.