Tuesday, January 24, 2017

Chart Talk {01.24.17}

The S&P 500 ETF {SPY} last made a new high on December 13, 2016.  It has since then traded in a very narrow range of roughly 3 points.  I thought it would be interesting to show how certain other major indices have performed during the same period.  You can double-click on this chart to make it larger.

Mega-cap, mid-cap ETFs along with ETFs related to the Nasdaq have shown positive returns during this period.  The S&P Equal Weighted index {RSP} has shown the worst return, likely due to its energy exposure and the rest is more or less inline with SPY.    

What resolves this narrow range, either to the downside or a break-out above is anybody's guess at this point.

*Performance data comes from the performance chart utility developed by Stockcharts.com.  While we assume their data is correct, we make no claims and cannot be held responsible for the accuracy of these results.

**Long various indices shown above in both client and personal accounts.  Please note these positions can change at any time without notice on this blog or on any other form of communication including written and electronic.