A Great Long Opportunity For The S&P 500?

2018년 7월 23일

I have identified a cup and handle pattern (see here for more information - investopedia.com/terms/c/cupandhandle.asp) on the daily chart of the S&P 500. This has been confirmed as we have broken out of the previous 2800.000 resistance region which is now a key support region. We are now just hovering above the 2800.000 support region (circled above).

This could be a great buy opportunity because there are 174 S&P 500 companies scheduled to report earnings this week. So far, this earnings season has been a rather strong one. Of the S&P 500 companies that reported before this week, 87% beat earnings expectations and 77% beat revenue expectations, Butters wrote. Both of those statistics are above the five-year average.

If the earning reports can continue to do well, we could reach all-time highs in the near future.

More can be read here - marketwatch.com/story/earnings-watch-35-of-sp-500-companies-set-to-report-in-a-crazy-week-2018-07-23