FirstAlert(tm) Daily 10/16: Momentum Rally For SPX And SPY.

Investrend | October 16, 2009 | Copyright

Oct 16, 2009 (FinancialWire via COMTEX) -- (Comment on this article at http://www.financialwire.net/2009/10/16/firstalerttm-daily-1016-momentum-rally-for-spx-and-spy/)

- Technical Analysis -

October 16, 2009 (FinancialWire) (By Frank Kollar) -- Both the S&P 500 Index (SPX), and its tracking ETF the S&P Deposit Receipts (NYSE: SPY) have advanced to new 2009 and new rally highs.

After correcting to their 50-day moving average two weeks ago, both the SPX and SPY reversed hard on Oct 2 and have been rallying since. Several days have seen gaps at the ...

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