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The S&P 500 ETF Difficulty With Its 50-Day Resembles June

ByPacific Park Financial Inc.
AuthorGary Gordon
Published 09/08/2013, 04:06 AM
Updated 03/09/2019, 08:30 AM

For three weeks in late June and early July, the S&P 500 SPDR Trust ETF (SPY) lingered below a key 50-day trendline. Ultimately, SPY broke back above its moving average, and then rocketed to fresh all-time highs.
SPY 1
Perhaps ironically, the pattern appears to be repeating itself. (Sort of.) If SPY blasts above 50-day resistance and holds it, one might anticipate brand new records for U.S. stocks. On the other hand, if resistance at the the 50-day holds for much longer, one should factor in the possibility that SPY could drop 6% from current levels; SPY might trade near the 156 mark.
SPY 2

Disclosure: Gary Gordon, MS, CFP is the president of Pacific Park Financial, Inc., a Registered Investment Adviser with the SEC. Gary Gordon, Pacific Park Financial, Inc, and/or its clients may hold positions in the ETFs, mutual funds, and/or any investment asset mentioned above. The commentary does not constitute individualized investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial, Inc. or its subsidiaries for advertising at the ETF Expert web site. ETF Expert content is created independently of any advertising relationships.


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