ChartAdvisor for July 10 2015 Tickers in this article: SPY, DIA, QQQ, IWM The U.S. markets moved lower over the past week, as of mid-day trading on Friday afternoon, following a troubled week abroad. After the Federal Reserve refused to raise interest rates, the economy looks a bit more sluggish than it used to with the IMF revising its outlook lower. Factory orders also fell for the sixth consecutive month, while productivity has fallen for two consecutive quarters, signaling potential problems in the U.S. manufacturing industries.
International markets moved largely higher over the past week, despite turbulence in China and Greece. Japan's Nikkei 225 fell 3.63%; Germany's DAX 30 rose 1.87%; and Britain's FTSE 100 rose 1.25%. In Europe, Greece appears to have signed a last-minute deal to secure a bailout and remain in the Eurozone. In China, the government froze trading in more than half of the country's securities in order to stem rapidly falling share prices, with what seems to be some success.
The S&P 500 SPDR (SPY) 
The S&P 500 SPDR (ARCA: SPY) fell 0.24% over the past week, as of mid-day trading on Friday afternoon. After falling sharply below its lower trend line support, the index has been trading in a very volatile sideways pattern. Traders should watch for a rebound back above the trend line at 208.50 or a move lower to the 200-day moving average at 203.87. Looking at technical indicators, the RSI appears neutral at around 46.59, but the MACD remains in a bearish pattern.
Dow Jones Industrial Average SPDR (DIA)  The Dow Jones Industrial Average SPDR (ARCA: DIA) fell 0.03% over the past week, as of mid-day trading on Friday afternoon. After falling below its lower trend line at around 178.00, the index has been in a volatile sideways pattern. Traders should watch for a rebound back above its trend line or a move below the 200-day moving average support at around 175.30. Looking at technical indicators, the RSI appears neutral at 46.76, but the MACD remains in a bearish pattern.
PowerShares QQQ Trust (QQQ) 
The PowerShares QQQ Trust (NASDAQ: QQQ) fell 0.51% over the past week, as of mid-day trading on Friday afternoon. After falling below its trend line support, the index has been trading in a very volatile sideways pattern. Traders should watch for a move back up to the trend line at 108.78 or for a move down to the 200-day moving average at around 104.38. Looking at technical indicators, the RSI appears neutral at 46.07, but the MACD remains in a bearish freefall.
iShares Russell 2000 Index ETF (IWM)  The iShares Russell 2000 Index ETF (ARCA: IWM) fell 0.06% over the past week, as of mid-day trading on Friday afternoon. After falling to its lower trend line support, the index rebounded to its 50-day moving average at 124.12. Traders should watch for a move higher toward resistance at 126.00 or a move lower to its trend line at around 121.75. Looking at technical indicators, the RSI appears neutral at 46.72, but the MACD remains in a relatively bearish pattern.
Looking Ahead The major indexes moved lower over the past week, as of mid-day trading on Friday afternoon. Next week, traders will be watching a number of key economic indicators, including retail sales on July 14th, industrial production on July 15th, jobless claims on July 16th, and inflation and housing data on July 17th. Of course, investors will also be closely watching the developments in Greece and China.
Refine Your Financial Vocabulary Sign up to receive our FREE Term of the Day newsletter. Gain a better understanding all things financial with technical and easy-to-understand explanations. Click here to begin developing your financial language with this daily newsletter. Charts courtesy of stockcharts.com Disclosure - At the time of writing, the author did not own shares of any company mentioned in this article.
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