Have to give it to the S&P500 to turn bullish over the last two days. Had earlier highlighted the daily chart bullish indicators and the worst case intra day based scenario. Clearly the Daily chart trend prevails and more upside should follow to the end of the month.
This was not expected, but clearly turned bullish, especially after a nice long bullish candle is followed by another to end the week. This broke above the 55EMA, the downtrend line, and activated a system Buy signal. The technical indicators are just turning up, which suggest that this could be the start of a mini bull to a higher high.
Expecting the current resistance level to hold a bit, and with a short shallow pullback some time early-mid next week. Likely continue the trend to the historical high.
Now, IF, and when it breaks this... if ever, it would be a seriously ugly fake head. #justsaying
(the time lines are there as advance expected turn dates, btw... )
This was not expected, but clearly turned bullish, especially after a nice long bullish candle is followed by another to end the week. This broke above the 55EMA, the downtrend line, and activated a system Buy signal. The technical indicators are just turning up, which suggest that this could be the start of a mini bull to a higher high.
Expecting the current resistance level to hold a bit, and with a short shallow pullback some time early-mid next week. Likely continue the trend to the historical high.
Now, IF, and when it breaks this... if ever, it would be a seriously ugly fake head. #justsaying
(the time lines are there as advance expected turn dates, btw... )
