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Despite Recent Chaos, SPY Remains Up 5.8% YTD and 2% Above 200 Day Average
In the past week, we've had 3 distribution days, where the market dropped on above average volume, and we've had 2 accumulation days, where the market rose on above average volume.
You have sectors that have gotten obliterated. Look at some of the ag names. Syngenta (SYT) had an 8 rsi the other day. AGCO making one new low after another. DE. Energy down huge. The market broadly has held up fine - the last week has been anything but pleasant but when looked at over the span of the year, there's really nothing of great concern. When you look at specific sectors, there are some concerns but also some values for those with a long-term view.
Comments
Just nutty.
down 3% for week...4.4% for past month...
less than 1% above 200 d average.