S&P Chart Breaking Support

Investing

Published: October 19, 2012 10:05 am

Last Updated: April 28, 2020 5:16 am

Stocks are selling off on the twenty-fifth anniversary of the stock market crash of 1987. There is little to focus on from government economic data, but stocks are selling off ahead of the weekend on a myriad of earnings reports which are fair to poor. Today we are analyzing the SPDR S&P 500 (NYSEMKT: SPY) as it is the most liquid and most representative of the broad markets out of all the ETFs which trade.

For Friday’s chart analysis, Phil Erlanger said,

SPY today has broken support on some weaker earnings reports. Watch to see if $145.26 which is support can be retaken. If it cannot, then no need to commit to the buyside.

As far as how this support matters, it depends upon your timeline. The 50-day moving average for the SPY is not seen until $143.23.

The Erlanger Value Lines can be accessed via Erlanger Chart Room. The daily service gives investors and traders access to critical buy/sell levels on the S&P 500, NASDAQ, DJIA, Oil Services Index, gold & silver, any index or equity, as well as analyzing short-squeeze opportunities and more. For more information we direct you to sign up here.

OCTOBER 19, 2012

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.