| 2018-10-19 16:09:38|
XLF, XLE… 16:09 10/19 10/19/18
On The Fly: Weekly technical notes for S&P 500
The S&P 500 (SPX) was about flat for the week, failing to recover from prior-week losses. With index price last at 2767.78, the day is also essentially flat after failing to hold an earlier rally. At current price, the 2750-2700 area becomes the test support zone on the downside. Resistance is at the 2800 area, a level that has failed to hold now several times over the last two weeks. Financials (XLF), Energy (XLE), and the Industrials (XLI) were the big underperforming sectors in a week that saw no real positives for sector breadth.
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