SP500 headed higher
SP500 appears to be headed higher. The most widely used indicators MACD, RSI and 5/20 EMA are showing bullish. Most important is the RSI, a bullish signal formed when the RSI stayed within a tight range below the 50 than retraced above the 50 level.
Anyone's guess how much higher it can go, but with current analysis, I see the previous highly range being tested.
- Same time the MACD signal went positive
- Breakout of range
- Above anchored VWAP from the low
- RSI above 50
Anyone's guess how much higher it can go, but with current analysis, I see the previous highly range being tested.
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