The S&P500 gapped-up with this morning's open as expected from the bullish posturing left over from last week.
Things to note:
- Bullish cross of 9 above 21
- Bullish cross of 100 above 200
- Gapped up +0.50% @ open
- Bull target #1 resistance @ 50SMA $4117
- RSI gettin there but still room to go
If I had to call it, I'd say we tag the 50 on the 4HR and then come back down to fill the gap & cool-off the RSI.
If I'm wrong, next level is the 300SMA @ $4156 to the upside.
Things to note:
- Bullish cross of 9 above 21
- Bullish cross of 100 above 200
- Gapped up +0.50% @ open
- Bull target #1 resistance @ 50SMA $4117
- RSI gettin there but still room to go
If I had to call it, I'd say we tag the 50 on the 4HR and then come back down to fill the gap & cool-off the RSI.
If I'm wrong, next level is the 300SMA @ $4156 to the upside.