Invesco S&P 500 Equal Weight Materials ETF
  • RSPM

  • $36

  • +1.77%
  • $35

  • $36

  • $35

Ticker Appearances

Thu, February 29, 2024 | 2:27PM ET
2 hours to go, we see Equities hanging onto a slight gain based on SPX's +0.28% rise, while NASDAQ is higher by +0.70%. US Dollar is pushing higher while US Treasury yields are largely following Europes lead in weakening ever so slightly (^TNX -1.32%  lower by -0.02 bp) Precious metals are rising +0.50% & commodities are largely higher led by Coffee, Froz OJ, Iron Ore, Silver. Both Crude and Nat Gas are roughly unchanged, while Gasoline is higher by 1.50%. the Materials sector has benefited nicely in recent days from a bounce in commodities and Materials ETF is nearing prominent peaks made both last July and also December which are important, but today looks to have the chance of exceeding both prior levels on a close above $33.98 in RTM, the Equal-weighted Materials ETF. Outside of Materials, Technology is strengthening sharply above 1% today along with Communication Services and Healthcare is the only 1 of the 11 Equalweighted Sectors with a loss in today's trading. At current levels, RSP the Equalweighted S&P 500, would indeed log a new weekly all-time high weekly close, while being slightly under intra-week peaks made the first week of January 2022. Overall i view today's price action as bullish, once again, and some signs of QQQ starting to reassert its strength which is a positive. The chart enclosed is of the Materials sector and the ability to break out in the days to come would support some near-term outperformance by Materials stocks. I'll discuss this sectors best technical stocks next week and what i like overweighting
Trending tickers in our research
Ticker Price Chg%
$224.43
+1.75%
$113.00
+0.64%
$242.84
+4.89%
$21.56
+6.31%
$43.41
+1.57%
$219.98
-0.12%
$140.09
+1.28%
$804.25
-2.06%
$463.21
+1.08%
$33.00
+2.71%

^Prices as of 2024-07-26 16:15:15