Invesco S&P 500 Equal Weight ETF

  • RSP

  • $173.26

  • -1.46%

  • $174.66

  • $174.95

  • $173.07

Ticker Appearances

Daily Technical Strategy
Wed, January 8, 2025 | 7:58PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

SPX might push to new monthly lows into next week, and then bottom

SPX IS STILL TECHNICALLY WITHIN ITS BEARISH SHORT-TERM CONSOLIDATION PATTERN THAT BEGAN NEARLY FIVE WEEKS AGO, AND THE LAST COUPLE OF DAYS HAVE PRODUCED EVEN...

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Wed, January 8, 2025 | 5:15PM ET

⚡ FlashInsights

Wed, January 8, 2025 | 5:15PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
Is it right to buy Energy for a bounce? Equal-weighted Energy has trended up sharply over the last couple weeks, but these gains remain part of a lengthy downtrend in the relative picture of Energy to SPX since October 2023. While investors heard reports of possible China-led supply shock events like banning US-sanctioned Tankers from Shandong Port, the entry for most sanctioned Oil which might drive up shipping costs (1.74 million barrels per day from Iran, Russia, and Venezuela in the last year) However, Crude failed to lift in trading and closed down negative. Overall, my feeling is that Energy likely does outperform in Q1 before heading lower, but at current levels, it's likely that Crude, and by extension, Energy might require a "breather" before being able to push higher. This downtrend shown below is a daily chart of Equal-weighted Energy (RYE) in ratio form to the Equal-weighted SPX (RSP -1.46% )
Tickers
Thu, January 2, 2025 | 10:51AM ET

⚡ FlashInsights

Thu, January 2, 2025 | 10:51AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Happy New Year All! As the first full trading day of 2025 gets underway, US Equities are attempting a rather lackluster bounce, but SPX will require much more strength this week to have some conviction that the decline is complete as the intermediate-term uptrend was broken for Equal-weighted S&P 500 (RSP -1.46% ) and both daily and weekly MACD are now negative (indicating that near-term momentum has joined trends in turning more negative in recent weeks) Overall, while i expect that this consolidation should be complete by mid-January, it's hard to claim technically just yet that lows are in place. This weekly RSP chart shows the recent breakdown, and reclaiming this uptrend on better than average sector participation looks important. Patience required, and "no need to be the hero" in buying dips just yet technically, as SPX very well could move to 5650-5700 before bottoming.
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Daily Technical Strategy
Mon, December 23, 2024 | 6:17PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Bounce still underway as early dip finds strong support

SPX LOOKS TO HAVE BEGUN A LATE DECEMBER RALLY, WHICH STARTED LATE LAST WEEK AND MIGHT LAST UNTIL RIGHT AFTER THE CHRISTMAS HOLIDAY. DESPITE THE ANEMIC...

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