Today’s Market Mood

THE MARKET MOOD

 

 

 

Toni Says:

 
GainsMaster May | June 2019
The SPY dipped below the 12-month moving average (monthly chart) in December 2018 and January 2019, putting us in a STOP position.
However, it rallied from there, signaling a GO position in February. The SPY climbed back to its all-time highs and touched a new all-time closing high on May 3 at 294.03.
While that is positive, we must note that the utilities sector, represented by the XLU, has climbed to new highs this year, which sometimes suggests a bearish undertone.
As I write (May 21), the 12-month MA is coming in at 278.  Should the SPY fall below that line in coming weeks, our GO signal will reverse to a STOP signal, indicating traders and investors will want to remain extremely cautious until the SPY is once again trading above the 12-month MA.

Keep green on your screen!

Toni

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