04-14-2014, 01:32 AM
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The SPDR S&P 500 (ARCA:SPY) ETF fell 1.19% over the past week, as of Thursday's close. After briefly rebounding from its 50-day moving average, the index dropped back below it towards its lower trend line and S1 support at 180.24. Traders should watch for a rebound from the 50-day moving average or a move down to the lower trend line over the coming weeks. Looking at technical indicators, the RSI appears oversold at 43.19 but the MACD remains in a bearish downtrend. |