INVESCO S&P 500® EQUAL WEIGHT ETF forum
RSP can the market broaden out and boost the equal weight in 2025 🤔
RSP multiple resistances
RSP Overall I think we are in a bullish scenario.
RSP . The last high peak does not beyond the previous high peak. So the bear market continues. But now this ETF reachs a strong resistant zone. Maybe the ETF will go up.
RSP in blue Equal weight of the SPY in orange. I put a vertical line every time the SPY showed divergence. But divergence is a condition not a buy or sell signal. It can last for weeks or months.
SPY
3/5/2023 Market Diary
1. Banking groups KRE (-6.3%) and KBE (-5.2%) hit a new 52-week low, rejecting its declining 10 & 20-MA & breaking down from a bearish flag that had been highlighted for over five weeks.
2. RSP -1.5%, with intraday action undercutting all four major moving averages in a single attempt. Hallmark of a weakness.
3. Largest number of new lows printed from all three exchanges since March 13th (541).
4. Bitcoin related names exhibiting relative strength.
3/5/2023 Market Diary
1. Banking groups KRE (-6.3%) and KBE (-5.2%) hit a new 52-week low, rejecting its declining 10 & 20-MA & breaking down from a bearish flag that had been highlighted for over five weeks.
2. RSP -1.5%, with intraday action undercutting all four major moving averages in a single attempt. Hallmark of a weakness.
3. Largest number of new lows printed from all three exchanges since March 13th (541).
4. Bitcoin related names exhibiting relative strength.