SPY possibly and IWM confirmed broke out of uptrend channel

SPY closed today just at the bottom of the trend channel. After today's 2.52% drop, it might pop tomorrow and the confirmation of broken uptrend might be the day after. It also broke through short-term support around 89.75. Notice the 5 day moving average (yellow curve), which has turned downward. Also notice MACD at the bottom which is showing negative divergence (meaning downward move is accelerating).


IWM confirmed that the uptrend is broken (this was signaled yesterday). Today it broke through short-term support around 48.25. The state of 5 day moving average and MACD is similar to SPY's, mentioned above.

Disclaimer: No position in any of the mentioned securities.

Russell2000 possibly broke the trend channel today

Also note MACD sell signal on daily time frame.

Disclaimer: No position in mentioned security.

Index ETF and SPDR returns for May 11

Today as usual financials and technology sectors swapped positions on the return ranking, where technology being the best performing while financials being the worst. One thing to note was lower volume.

Disclaimer: Long position in GLD and, short position in XLF and SPY.

Weekly Asset Returns (05/08)

Here are the asset returns for the last week (courtesy of WSJ). The numbers show decreasing risk aversion of investors, where crude oil, REITs and emerging market stocks being the best performers and the dollar being the worst.

Here are the returns for the major equity index ETFs and sector SPDRs. Financials are still going strong.

Disclaimer: Long position in GLD and XLE, and short position on SPY.