MDY in Parabolic South Mode

MDY shows a bearish trend

   

The SPDR S&P MidCap 400 (NYSE:MDY) is an index that tracks the S&P mid-caps. Here we have the index futures on the weekly chart, and as you can see, this week we did a backtest at the highs. We have to remember that every single bearish rising wedge is imperfect.

Now with the weakness we’ve  had, we’re in confirmed breakdown mode.


Article printed from InvestorPlace Media, http://investorplace.com/247trader/mdy-in-parabolic-south/.

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