According to my technical analysis on the weekly chart using the TD-Sequential Indicators along with the 50 MA (Moving Average) and the 100MA in the purple, we've got a really great chance of a few weeks of some upside. Maybe new all-time highs!!
At the time of this writing, the S&P500 (SPX) is on a green '3' of '9' candle on this weekly chart.
Typically, a perfect setup is what a green '2' closing ABOVE a green '1' candle; Which is exactly what happened here on the weekly chart!
We're finding really good support along the 50MA (in the blue). Every now and then we hit the 100MA (in the purple), but we always bounce off that support line.
There's a lot of uncertainty in the markets because of the tariff battle going on; However, I don't think this is going to really hurt the market much. I'm not a financial advisor, but overall, I'm bullish in this economy.
At the time of this writing, the S&P500 (SPX) is on a green '3' of '9' candle on this weekly chart.
Typically, a perfect setup is what a green '2' closing ABOVE a green '1' candle; Which is exactly what happened here on the weekly chart!
We're finding really good support along the 50MA (in the blue). Every now and then we hit the 100MA (in the purple), but we always bounce off that support line.
There's a lot of uncertainty in the markets because of the tariff battle going on; However, I don't think this is going to really hurt the market much. I'm not a financial advisor, but overall, I'm bullish in this economy.
Comment:
Here is a look at the 'Daily' chart of the S&P (SPX) below.
This is great because we also have a long, green, engulfing '2' candle on the 'Daily' chart
I'm not a financial advisor, but this looks like a beautiful set up right here. I'm very still bullish.