Saturday, July 7, 2012

S&P weekly chart remains positive

The first 6 months of 2012 is over and the S&P 500 index has gained about 9%. Not bad for the economy we are currently experiencing now. From the weekly chart of SPY (ETF version of S&P 500), there was a pull back in May but the trend remains positive and continues to move upward. It is indicated by observing the 20 moving average line still stays above the slow 40 moving average line. I will continue to monitor this trend.

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