Stock Markets Analysis & Opinion

Key resistance on S&P 500 ETF

 

US500
+0.51%

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RSP
+0.56%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:


Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:


 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

The Invesco S&P 500® Equal Weight ETF (NYSE:RSP) is an ETF of the S&P 500, equal weighted. And since the talk of the recent market strength has been focused on just a few individual stocks, we thought it would be important to note that the equal weighted ETF of the S&P500 hit key resistance today, which matches the highs from January 2022, risking a double top formation as the relative strength (RSI) is divergent. In the event, the broader markets turn lower from here, the risk is this equal weighted ETF could trade back below the 50dma (orange average) rather quickly.

RSP Chart

Source

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