After trading below its 100-day moving average just a few weeks ago, the major US stock index has been roaring ahead for the past five weeks, rising in value during this time by about 8%. The end of last week saw the price reach another new all-time high, after having traded above the round number at 4700 for the first time.
The weekly candlestick was solidly bullish and closed not far from the top of its price range. This, and the record high, are bullish signs.
The S&P 500 Index looks likely to remain a good potential buy.
The weekly candlestick was solidly bullish and closed not far from the top of its price range. This, and the record high, are bullish signs.
The S&P 500 Index looks likely to remain a good potential buy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.