Bearish Moving Average Cross by SPDR Trust Series 1 (SPY)
SPDR Trust Series 1 (AMEX:SPY) crossed under its 10-day moving average of $217.98 on a volume of 40.8 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, SPDR Trust Series 1 has traded in a range of $181.02 to $219.60 and is now at $216.45, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of SPDR Trust Series 1 on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $211.86. Since that recommendation, shares of SPDR Trust Series 1 have risen 3.1%. We continue to monitor SPY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses amex:spy spdr trust series 1