S&P Bounces After Pullback
The S&P 500 ended last week with a big bearish candle. The Dow Jones 30 also closed bearish
with a gap-down candle. Price action today was important to give us an idea where price
may be heading next.
If we continued to see bearish moves today, then that would have indicated the potential
end of the trend. But Monday and Tuesday so far have seen a nice reversal with bullish moves.
We now need to see bullish momentum through the rest of the week. The bounce came at the
50 simple moving average and price even closed above the 20 simple moving average.
Price is not too far away from the all-time high, which lies at $4257, and we could see a
breakout this week if the momentum continues.
Following a breakout of the high, we want to see the trend go on to the end of the year.
This will allow our portfolio to increase in profit and give us many opportunities to
compound and maximise our profits further.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
with a gap-down candle. Price action today was important to give us an idea where price
may be heading next.
If we continued to see bearish moves today, then that would have indicated the potential
end of the trend. But Monday and Tuesday so far have seen a nice reversal with bullish moves.
We now need to see bullish momentum through the rest of the week. The bounce came at the
50 simple moving average and price even closed above the 20 simple moving average.
Price is not too far away from the all-time high, which lies at $4257, and we could see a
breakout this week if the momentum continues.
Following a breakout of the high, we want to see the trend go on to the end of the year.
This will allow our portfolio to increase in profit and give us many opportunities to
compound and maximise our profits further.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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