MACRO VIEW: SPX UPDATE: 5-YEAR UPTREND RESTORED
S&P 500 restores 5-year uptrend by breaking above the upper 1st standard deviation from 5-year mean (at 2020), signaling more long term upside probability.
One should also note that the August selloff did not trigger the test of the 10-year trend (price did not tag the 10-year uptrend border at 1845), meaning the upward bias is pretty strong on the index.
One should also note that the August selloff did not trigger the test of the 10-year trend (price did not tag the 10-year uptrend border at 1845), meaning the upward bias is pretty strong on the index.
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