S&P 500 Ready To Breakout!
The S&P 500 experienced a pullback last week and before that, price had climbed
up 3.64% following a consolidation breakout.
When price was pulling back, we identified the 20 simple moving average as the
next level of support that price would move down to.
Price did not make it to the 20 simple moving average and had instead found
support above this indicator and started to move up at the end of last week.
With the bullish candle from Friday’s close, we are anticipating a continuation
to the upside. A break and close above the recent high at $4718 will confirm this.
We are in the season where trends usually emerge, and the S&P indicates the
overall market is bullish.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
up 3.64% following a consolidation breakout.
When price was pulling back, we identified the 20 simple moving average as the
next level of support that price would move down to.
Price did not make it to the 20 simple moving average and had instead found
support above this indicator and started to move up at the end of last week.
With the bullish candle from Friday’s close, we are anticipating a continuation
to the upside. A break and close above the recent high at $4718 will confirm this.
We are in the season where trends usually emerge, and the S&P indicates the
overall market is bullish.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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