S&P 500 IndexLong
S&P Keeps Soaring To Record Highs!
Since our last post on June 22nd, price has progressed really well. Back then, the all-time high at
$4275 was yet to be broken. It did go on to break this level and right now price is up 2.57%.
Price was also rangebound back then, hovering between a high of $4257 and a low of $4056.
Since breaking out, price has formed a nice neat linear move up, creating new all-time highs.
As with most clean moves, we can expect to see a pullback and period of consolidation at some
point. If this occurs, we have the 20 simple moving average below price followed by the 50 simple
moving average.
The 50 simple moving average does, however, fall inside the consolidation zone. The S&P continues
to look strong and as long as it remains this way, we will continue to look for long opportunities in
both UK and US stocks.
Our role as investors is not to predict the markets, which is near impossible but to ride the waves,
which is why we are able to ride the bull wave with such ease and success.
We now want to see price continue to trend and move up towards the $500 round number.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
$4275 was yet to be broken. It did go on to break this level and right now price is up 2.57%.
Price was also rangebound back then, hovering between a high of $4257 and a low of $4056.
Since breaking out, price has formed a nice neat linear move up, creating new all-time highs.
As with most clean moves, we can expect to see a pullback and period of consolidation at some
point. If this occurs, we have the 20 simple moving average below price followed by the 50 simple
moving average.
The 50 simple moving average does, however, fall inside the consolidation zone. The S&P continues
to look strong and as long as it remains this way, we will continue to look for long opportunities in
both UK and US stocks.
Our role as investors is not to predict the markets, which is near impossible but to ride the waves,
which is why we are able to ride the bull wave with such ease and success.
We now want to see price continue to trend and move up towards the $500 round number.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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