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Κυριακή, 21 Δεκεμβρίου 2014

SPY, DIA, IWM, QQQ-ChartAdvisor for December 19 2014


Major U.S. indices were poised to end the week on a higher note, as of mid-day trading on Friday afternoon. While crude oil prices have weighed on the market in recent weeks, the Federal Reserve helped boost equities this week by saying that they wouldn't be too eager to raise interest rates. Favorable economic data across the board didn't hurt either, helping equities recover their losses and confirming that the economy remains on track despite foreign weakness.
International markets moved largely higher over the past week, as of mid-day trading on Friday afternoon. Japan's Nikkei 225 rose 1.4%; Germany's DAX 30 rose 2%; and, Britain's FTSE 100 rose 4.02%. In Europe, the Eurozone economy continues to show signs of growth even as France and Germany registered weakness. In China, home prices fell for a third straight month, which led to concerns that the world's largest economy could further slow down.

SPDR S&P 500 (SPY)

The SPDR S&P 500 (SPY) ETF rose 2.6%, as of mid-day trading on Friday afternoon. After falling to its S2 support at 197.23, the index sharply rebounded to its R2 resistance at 212.85 before retreating to its pivot point. Traders should watch for a rebound back up to its R1 resistance at 210.03 or a move down to S1 support at 202.22. Looking at technical indicators, the RSI appears relatively neutral at 55.57 while the MACD looks as if it might experience a bullish crossover.

SPDR Dow Jones Industrial Average (DIA)

The SPDR Dow Jones Industrial Average (DIA) ETF rose 2.58%, as of mid-day trading on Friday afternoon. After moving below its 50-day moving average at 172.42, the index rebounded above its pivot point at 175.89. Traders should watch for a move to R1 resistance at 180.13 or a move back down to the pivot point. Looking at technical indicators, the RSI appears neutral at 57.29 while the MACD could be gearing up for a bullish crossover in the near-term.

PowerShares QQQ (QQQ)

The PowerShares QQQ (QQQ) ETF rose 1.58%, as of mid-day trading on Friday afternoon. After moving down to support at around 100.00, the index rebounded to its pivot point at 103.92. Traders should watch for a breakout higher to its R1 and trend line resistance at 107.55 or a move back down to S1 support at 101.99. Looking at technical indicators, the RSI appears neutral at 56.47 while the MACD appears as if it may experience a bullish crossover.

iShares Russell 2000 (IWM)

The iShares Russell 2000 (IWM) ETF rose 3.48%, as of mid-day trading on Friday afternoon. After falling to its 50-day moving average at 114.42, the index rebounded to its R1 resistance at 118.86. Traders should watch for a breakout from these levels to R2 resistance at 121.02 or a move back down to its pivot point at 116.61. Looking at technical indicators, the RSI appears relatively neutral at 58.38 while the MACD appears to be crossing over into bullish territory. 
Source:Investopedia

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