S&P uptrend continues as the market cheers strong earnings

Last week, the bulls finally gained the conviction needed for a breakout. Fueled by strong banking earnings, the market has moved upward from its trading range, reaffirming the long-standing uptrend.

Both the short- and long-term outlooks remain bullish. More earnings reports are set to be released next week, but unless there are significant surprises, nothing is expected to change.