Wednesday, November 27, 2019

SPX Update

No material change since last update, and the long-term uptrend continues.  The traditionally-bullish Thanksgiving week has come through for bulls so far.

We'll take a look at SPX across three time frames.  First, the near-term... SPX has continued to honor the blue trend line chart for the past few weeks, and has now bounced from the lower line to the upper:

Intermediate-term, SPX has now made it above rising resistance -- it may want to back-test that zone at some point:

Long-term, still between next support/resistance:

In conclusion, no material change to the past few weeks, and we maintain our intermediate bullish outlook until proven otherwise.  Incidentally, Happy Thanksgiving to everyone!  Please remember to take a moment to thank your friends and family for all they do -- because when it's all said and done, money can never be more than a "means to an end," not the end in itself.  Trade safe.

No comments:

Post a Comment