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ETFs and stocks move higher and S&P 500 closes above 1500
U.S. ETFs and stocks put in another powerful week to overcome the continuing sell off in Apple (NASDAQ:AAPL) and close above the psychologically and technically important level of 1500 in the S&P 500 (NYSEARCA:SPY)
Friday’s close marks the highest close for the S&P 500 (NYSEARCA:SPY) in five years and leaves the index just below its nominal all time high.
Apple (NASDAQ:AAPL) fell farther on Friday and gave up its number one spot to Exxon as largest company by market cap.
A quick glance at the chart of the S&P 500 (NYSEARCA:SPY) shows us that the index is at overbought levels of 74.41 on RSI, however, momentum is quite positive, as depicted by MACD, the trend is strongly positive and the 50 and 200 day moving averages have turned higher, as well…
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