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The Robinson Report: S&P 500 Retakes 50 DMA, Clears Key Resistance Zone

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The market indecision ended this week as the S&P 500 index surged higher on moderate volume levels. After spending several weeks hovering close to its 200 DMA, the closely watched index strengthened amid waning geopolitical concerns. The rally sent the S&P 500 above its 50 DMA, which has served as a hurdle, with few exceptions, since mid-March. (So too, the index rallied above the key $2670-$2710 resistance zone, which has also been stubbornly difficult to overcome since mid-March.)

Though the price action was impressive, the rally came on relatively moderate volume. Until the index enjoys a strong follow-through day on larger than normal volume, the Position uptrend will remain under pressure.

When the dust settled on Friday afternoon, the Energy sector (XLK) led the market with a strong 3.9% weekly performance. The Financial (XLF), Industrial (XLI) and Technology (XLK) sectors also led the market higher for the week, rising by +3.6%, 3.4%, and 3.3% respectively. Only two sectors slipped lower during the week: Consumer Staples (XLP) fell 0.3% and Utilities (XLU) tumbled 2.19%.

Year-to-date, the S&P 500 Index ETF (SPY) is finally back in the black (+2.66%).

Other highlights from the latest issue of The Robinson Report:

  • Register now for the upcoming 2018 Follow the Money Summit (Details inside!)
  • We’re enjoying a run in this stock with 11% last week on heavy volume
  • Position Trading Portfolio: This pharma stock is a hot candidate on our radar!
  • Top 10 Stocks for 2018: This leading stock shines with over +70% YTD!
  • Brand NEW Feature: Expert Advisory Update!
  • Our Top 10 Stocks smash the S&P 500 ETF (SPY) with +18.17% YTD!
  • NEW TRADING IDEA: This Canadian company is approaching takeoff with ‘smart money’ in cue
  • PACE Portfolio: This commodity ETF is on fire with +50.62% since Uptrend alert 10 months ago!
  • And much more!

ALSO INSIDE: (CHARTS: S&P 500, GOLD, SILVER, U.S. DOLLAR, MINING, AND MORE) Plus, our exclusive list of our top 25 U.S. stocks (based on our 7-point SmartScore ranking system) along with rankings and commentary on gold and silver mining stocks, a variety of REITs based on category, and high-income MLPs…

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