Stocks surged after Fed day with the S&P MidCap 400 SPDR (MDY) hitting a new high early Thursday. The indicator window shows the price relative (MDY:SPY ratio) hitting a new high as well. Notice that the ETF's
Technical Rank (SCTR) has been above 70 the entire year as mid-caps show consistent relative strength.
Click this image for a live chart
Click this image for a live chart
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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