S&P Second Attempt At $4000
Price broke above the February 16th high at $3950 on March 15th, almost a month later, but then pulled
back to the 20 & 50 simple moving averages.
The moving averages held strong as support and helped to push price up through $3950, once again making
its second attempt at reaching the $4000 round number.
Right now, price is between support and resistance and will likely break out to the upside or the downside
sooner or later. The bias is for a breakout above resistance as the overall trend is bullish.
There is no telling how price will react to the $4000 level, but a clean break above it should see strong
moves continue in the stock market.
We are seeing strong moves in the Industrial sector, which is a shaft from the moves we saw in the
Information Technology sector from the peak of the global pandemic.
We are now just patiently waiting to see the outcome of price reacting to $4000, but in the meantime,
we will continue to manage our positions and look for more high probability opportunities.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
back to the 20 & 50 simple moving averages.
The moving averages held strong as support and helped to push price up through $3950, once again making
its second attempt at reaching the $4000 round number.
Right now, price is between support and resistance and will likely break out to the upside or the downside
sooner or later. The bias is for a breakout above resistance as the overall trend is bullish.
There is no telling how price will react to the $4000 level, but a clean break above it should see strong
moves continue in the stock market.
We are seeing strong moves in the Industrial sector, which is a shaft from the moves we saw in the
Information Technology sector from the peak of the global pandemic.
We are now just patiently waiting to see the outcome of price reacting to $4000, but in the meantime,
we will continue to manage our positions and look for more high probability opportunities.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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