S&P 500 In A Linear Trend!
The S&P 500 is going from strength to strength, continuing to create new all-time highs
since the beginning of 2020.
After breaking out of consolidation on the 28th October 2019, price has formed a
nice linear bullish trend. This Index has a good history of forming strong linear trends as we
have seen in the recent past from December 2018 to May 2019.
Some traders may begin to fear a market reversal based on fear but as technical traders,
we do not preempt market reversals. We need to see indications based on our analysis that
suggests a reversal is highly likely.
You can find more information on how we do that in the links at the bottom but to summarise,
what we first need to see are areas of support being broken. The first being the support at $3,027
followed by the $3,000 round number.
So, for now, we are in a bull trend and we may experience a pullback soon which is normal.
Price has the 20 simple moving average just below which is the first support area price may use as support.
This trend may go on for a number of months so it is worth looking at strong trending stocks for long opportunities.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
since the beginning of 2020.
After breaking out of consolidation on the 28th October 2019, price has formed a
nice linear bullish trend. This Index has a good history of forming strong linear trends as we
have seen in the recent past from December 2018 to May 2019.
Some traders may begin to fear a market reversal based on fear but as technical traders,
we do not preempt market reversals. We need to see indications based on our analysis that
suggests a reversal is highly likely.
You can find more information on how we do that in the links at the bottom but to summarise,
what we first need to see are areas of support being broken. The first being the support at $3,027
followed by the $3,000 round number.
So, for now, we are in a bull trend and we may experience a pullback soon which is normal.
Price has the 20 simple moving average just below which is the first support area price may use as support.
This trend may go on for a number of months so it is worth looking at strong trending stocks for long opportunities.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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