jamesgood497241

jamesgood497241 Updated 

S&P 500 ideally needs a pull back from here to go higher for the following reasons; a) We have reached the long-term upper trendline and this will offer very strong resistance. b) RSI is very overbought. Clearly we are over-extended here and well above the 21 day EMA. c) Momentum has been slowing. This is clear from just looking at the candlestick patterns. See...

jamesgood497241

Reaching the top of long term channel which should provide strong resistance. RSI overbought. Expect short term pullback coming up soon before reverting back to strong longer term bull trend. Dips likely to be seen as a buying opportunity. It will be interesting to see how the market reacts to the passing of the infrastructure bill though. A pullback would be a...