- Upward momentum including 2.18% gain insufficient to breach pivotal resistance level at $131.68
- Invesco S&P 500® Equal Weight ETF made an initial breakout above its 10 day Simple Moving Average at $130.97, a potential indicator of a newly emerging bullish phase.
With a daily low of $130.31, Invesco S&P 500® Equal Weight ETF closed yesterday at $131, after ending Friday at $128.2 and gaining $2.8 (2.18%).
Invesco S&P 500® Equal Weight ETF traded as high as $164.2 before shedding 15.88% lower over the past six months.
Invesco S&P 500 Equal Weight ETF made an initial breakout above its 10 day Simple Moving Average at $130.97, a potential indicator of a newly emerging bullish phase. On the other hand, note that although Invesco S&P 500® Equal Weight ETF is appreciating today after rising as high as $131.68, price action is now slowing and consolidating around 69 cents below the $131.68 resistance level.
Overall, looking at the technical analysis landscape, it seems Invesco S&P 500® Equal Weight ETF might continue pointing upwards in the short term.
Fundamental indicators – United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
Invesco S&P 500® Equal Weight ETF shows positive signs, other assets are also on par: ARK Innovation ETF went up by 7.03% yesterday, and closed at $36.38. Amazon went up by 6.45% yesterday, and closed at $113.79.
In the meantime, a flat day for iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF, closing at $25.35.
Upcoming fundamentals: projections for United States Crude Oil Inventories are set for a continuation of decline with 1.55 million while previous data was 9.88 million; data will be released tomorrow at 14:30 UTC.