March 16, 2009 March 16, 2009 By charlie In ,

S&P 500 ($SPY) Breadth and Risk

bpspxvix090316editThe uptrend has yet to end, but I traded FAZ as the financial sector faltered this afternoon. Though the above chart doesn’t show it, there is a good deal of resistance in the S&P 500, and some horizontal consolidation could be in the works. Investors should remain cautious due to the meager number of rising stocks amidst above average volatility.