Invesco S&P 500 Equal Weight ETF

  • RSP

  • $183.43

  • -0.54%

  • $184.46

  • $184.46

  • $182.79

Ticker Appearances

Daily Technical Strategy
Wed, December 4, 2024 | 7:16PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

“Bad News” is “Good news” again

EQUITY TRENDS FROM AUGUST REMAIN BULLISH, AND SPX HAS NEARED THE UPPER EDGE OF ITS FOUR-MONTH CHANNEL RESISTANCE WHILE THE NASDAQ 100 INDEX HAS JUST...

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Visitor: 7584e7-ae0e4f-6a2286-e059cf-305f08

Mon, December 2, 2024 | 12:40PM ET

⚡ FlashInsights

Mon, December 2, 2024 | 12:40PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Today's mild gains are nearly exclusively being driven by Large-Cap Technology gains which along with some of the Cruise-liner and Casino names within Discretionary are resulting in positive NASDAQ 100 gains of +1.25% and SPX gains of +0.28% while the Equal-weighted SPX (RSP -0.54% ) is down -0.30% on 1% or greater losses in Financials, Utilities, Energy, and REITS.. 9 of 11 sectors are down today and market breadth is -3/2 negative. Yet a Semiconductor bounce along with SMCI -7.93%  rebound has been healthy for Tech today. SPX daily chart enclosed shows SPX up near the upper edge of its channel resistance, but DeMark-based exhaustion counts look early by roughly 2 days (Both for SPX and also QQQ) Thus, no evidence of any selling pressure as December trading gets kicked off, but I expect markets will show consolidation between 12/5-December expiration before the Santa rally kicks in. Overall, i anticipate maximum gains to 6100 SPX while downside probably does prove muted in December given AAPL's breakout last week and 5950 could hold.
Tickers
Tue, November 26, 2024 | 12:57PM ET

⚡ FlashInsights

Tue, November 26, 2024 | 12:57PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
QQQ currently up +0.40%, and has not yet moved to new highs like what's happening with Equal-weighted RSP -0.54% . DJIA is lower today while IWM also down -0.41%, so while SPX is set to make new all-time highs on a daily close today potentially, other parts of the market aren't doing as well today. Thus, important to keep abreast of what's moving and what's not, as Materials, Discretionary and Healthcare are all down more than -0.60% and 10 of 11 sectors are lower. However, no evidence of deterioration thus far out of SPX, nor QQQ, both which are making mild progress this week.
Tickers
Fri, November 22, 2024 | 2:46PM ET

⚡ FlashInsights

Fri, November 22, 2024 | 2:46PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Equal-weighted S&P 500 has now outperformed SPX for the last 2 weeks, but now looks to be at an interesting crossroads of resistance which might prove important heading into next week See the relative chart of RSP -0.54%  to SPY -0.21%  below
Tickers
Fri, November 22, 2024 | 2:44PM ET

⚡ FlashInsights

Fri, November 22, 2024 | 2:44PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Equal-weighted SPX is set to make new all-time highs on a weekly close this week, but lies right near important former peaks which are likely to prove to be resistance into next week. RSP -0.54%  key levels lie at 185.79 and above would lead to fractional gains to 188 which should be very strong resistance.
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