Mid Cap SPDR 400 Trust Series 1 (MDY)
$344.15 0.06 (0.02%)
12:02 EDT MDY Stock Quote Delayed 15 Minutes
Previous Close $344.09
Market Cap 20.24B
PE Ratio -
Volume (Avg. Vol.) 371,444
Day's Range 342.34 - 346.17
52-Week Range 284.45 - 374.10
Dividend & Yield 4.23 (1.23%)
MDY Stock Predictions, Articles, and Mid Cap SPDR 400 Trust Series 1 News
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Rising oil prices and a weak dollar have resulted in unnatural momentum, but how far can they push stocks?
Friday's recovery rally came on very low volume, which is hardly indicative of a break higher.
While raising cash here is prudent, a full 20% correction does not appear to be imminent.
Few investors are willing to take risks at current levels.
Until the market charts a more definitive course, I remain neutral.
It is clearly time to take profits and initiate protective strategies.
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The intermediate trend is still up, but the market currently lacks follow-through.
Buyers seem to be focused on only the most beaten-down sectors.
The market's overall pattern is bullish, but there is a lack of momentum usually present at breakouts.
Stick with only the most fundamentally sound stocks at these levels.
A consolidation is due and, in fact, may have already started.
A double-top in MDY just below major resistance is enough to make me pause.
We are entering the first band of significant potential resistance.
Resistance abounds and higher prices aren't likely in the near future.
The advance lacks volume and faces significant overhead nearby.
But the current trend is sideways and the market must make a successful attack on resistance.
Following a selling climax, mid caps' turn higher lacked upside volume.
We're likely to see a high-volume dead cat bounce in this oversold market.
If they break, it will be clear evidence the bear has emerged.
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