ChartAdvisor for August 13 2015 Tickers in this article: SPY, DIA, QQQ, IWM The U.S. markets were mixed over the past week, as of Thursday's close, with small-cap stocks in the Russell 2000 lagging the overall Standard & Poor's 500. After China devalued its currency, U.S. investors sold off stocks early during the week, although prices recovered ground toward the end of the week. Investors are concerned, however, with the prospects of an interest rate hike as early as next month, which some are worried could send the economy back into a recession.
International markets moved largely lower over the past week, as of Thursday's close. Japan's Nikkei 225 fell 0.12%; Germany's DAX 30 fell 4.14%; and, Britain's FTSE 100 fell 2.4%. In Europe, subdued economic data, Greece concerns, and a slowing Chinese economy have led to grim predictions for the second quarter. In Asia, China's devaluation of the yuan has sparked some concerns of a currency war with Japan and may be seen as a desperate attempt to jumpstart growth.
The S&P 500 SPDR (SPY) 
The S&P 500 SPDR (ARCA: SPY) rose 0.34% over the past week, as of Thursday's close. After briefly falling below its 200-day moving average, the index rebounded toward its 50-day moving average at 209.28. Traders should watch for a move higher to upper resistance at around 213.00 or a move lower to S1 support at around 205.35. Looking at technical indicators, the RSI appears neutral at 47.42, while the MACD has been trading sideways for some time.
Dow Jones Industrial Average SPDR (DIA)  The Dow Jones Industrial Average SPDR (ARCA: DIA) rose 0.27% over the past week, as of Thursday's close. After falling below reaction support levels, the index rebounded to just above its lower trend line. Traders should watch for a prolonged move higher to its pivot point at 177.19 or a move lower to its S1 support at around 173.27. Looking at technical indicators, the RSI is modestly oversold, while the MACD remains in a decidedly bearish downtrend.
PowerShares QQQ Trust (QQQ) 
The PowerShares QQQ Trust (NASDAQ: QQQ) rose 0.05% over the past week, as of Thursday's close. After falling below its pivot point briefly, the index trades just below those levels of around 110.72. Traders should watch for a breakout to its R1 resistance at around 115.62 or a move lower to its S1 support at around 107.06. Looking at technical indicators, the RSI appears relatively neutral at 47.82, but the MACD remains in a bearish downtrend for the time being.
iShares Russell 2000 Index ETF (IWM)  The iShares Russell 2000 Index ETF (ARCA: IWM) fell 0.24% over the past week, as of Thursday's close. After falling sharply below its 200-day moving average at 120.80, the index is trading just above S1 support at 119.29. Traders should watch for a rebound to its pivot point at 123.01 or a move lower to its S2 support at 115.61. Looking at technical indicators, the RSI appears oversold at 36.59, but the MACD remains in a very bearish downtrend.
Looking Ahead The major indexes were mixed over the past week, as of Thursday's close, as investors debate the likelihood of an interest rate hike next week. Next week, traders will be watching a number of key economic indicators, including housing starts on August 18th, FOMC minutes of August 19th, and jobless claims and existing home sales on August 20th. In particular, the FOMC minutes will be closely watch for any indication of an interest rate raise in September.
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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