| 2021-09-24 15:57:42|
XLE, XLP… 15:57 09/24 09/24/21
On The Fly: Weekly technical notes for S&P 500
After a volatile ride in price, the S&P 500 (SPX) is set to end slightly higher on the week following a sharp drop below the 50-day moving average on Monday and subsequent snapback. For the coming week resistance is in the range of 4475-4525. Support is in the range of 4450-4420. Sectors that performed least well were Basic Materials (XLB), Utilities (XLU), Technology (XLK), Industrials, Consumer Discretionary (XLY), and Consumer Staples (XLP). Energy (XLE) was the standout on the upside.