undefined undefined/iStock via Getty Images
The S&P 500 (SP500) builds steam on the week as the major index closed positive in a big way, up 6.1%, lending support to ETFs that track the benchmark index. The index rose as volatility (VIX) levels dropped from 33 to 24, and now it sits at a crucial inflection point, the 200-day moving average.
Bullish or bearish? Traditional signs indicate that when an instrument trades above its 200-day moving average, the bulls are in control, and the reverse is true when trading below, rendering fuel to the bears.
While investors have the weekend to think and decide which direction should be favored, three of the market’s favorite ETFs that mirror the returns of the S&P 500: SPDR S&P 500 Trust ETF (NYSEARCA:SPY), iShares Core S&P 500 ETF (NYSEARCA:IVV), and the Vanguard S&P 500 ETF (NYSEARCA:VOO) may be poised to see indecisive action on Monday.
Year-to-date: the S&P 500 is -6.6%, and SPY, IVV, and VOO are each right there alongside the index.
See below a six-month chart of the S&P 500 attached with its 200-day moving average. Additionally, it should be noted that S&P 500 ETFs had their best week in over 4-months.
