The world’s most important stock market index, the S&P 500, rose firmly last week, despite earlier making the first “death cross” / “bear cross” (50 day moving average crosses below the 200-day moving average) seen since the coronavirus shock of March 2020.
The price closed Friday with strong short-term bullish momentum just a fraction below the 200-day moving average. If the price can now get established above that moving average, it will be a bullish sign that the bull market is likely to continue after pulling itself out of correction territory.
There is an obvious key resistance level at 4596.
The price closed Friday with strong short-term bullish momentum just a fraction below the 200-day moving average. If the price can now get established above that moving average, it will be a bullish sign that the bull market is likely to continue after pulling itself out of correction territory.
There is an obvious key resistance level at 4596.
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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.