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S&P 500 Looking More Constructive
Anchored Volume Weighted Average Price (AVWAP) provides insight into areas of possible support and resistance based on the past actions of market participants. In the S&P 500 ETF (SPY
These ETFs Are Key To Monitoring The Sustainability Of U.S. And Global Stock Rallies
Summary
- Anchored Volume Weighted Average Price (AVWAP) indicates that buyers may be regaining control of the S&P 500 trend.
- The Total World Stock chart also shows constructive AVWAP price characteristics, suggesting a possible trend shift from down to up.
- Inflation remains a wild card that could impact the market, but the current market message is to remain open to better-than-expected economic, earnings, and market outcomes.
Chris Ciovacco is the founder and CEO of Ciovacco Capital Management (CCM), an independent money management firm serving individual investors nationwide. The thoroughly researched and backtested CCM Market Model answers these important questions: (1) How much should we allocate to risk assets?, (2) How much should we allocate to conservative assets?, (3) What are the most attractive risk assets?, and (4) What are the most attractive conservative assets?
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of SPY, VOO, RSP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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