S&P Up 6% Since Major Breakout!
The S&P started off 2021 with a strong first week of trading and the current trend forming appears linear and strong.
We can identify a linear trend as price has just been using the 20 simple moving average as support since the
consolidation breakout when price moved above $3588 in November 2020.
We also have an indicator called the LTI which is our proprietary tool and only available to our Phoenix members
which helps to confirm linear trends and this tool confirms that the S&P is trending strong.
The move since price broke above $3588 has risen by 6% and we have positions in stocks which have moved up over
triple that percentage and more.
The markets are looking strong overall and we are taking advantage of the profits being handed out but we want
to be mindful that earnings season is coming up and the earnings figures could push price in any direction.
As a result, we need to remain ready to manage our positions if we see major levels of support and resistance
being taken out.
With the S&P trending, we want to see how price interacts with the $4000 psychological round number.
If that level is broken as well then we should see a continuation of the overall bull trend.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
We can identify a linear trend as price has just been using the 20 simple moving average as support since the
consolidation breakout when price moved above $3588 in November 2020.
We also have an indicator called the LTI which is our proprietary tool and only available to our Phoenix members
which helps to confirm linear trends and this tool confirms that the S&P is trending strong.
The move since price broke above $3588 has risen by 6% and we have positions in stocks which have moved up over
triple that percentage and more.
The markets are looking strong overall and we are taking advantage of the profits being handed out but we want
to be mindful that earnings season is coming up and the earnings figures could push price in any direction.
As a result, we need to remain ready to manage our positions if we see major levels of support and resistance
being taken out.
With the S&P trending, we want to see how price interacts with the $4000 psychological round number.
If that level is broken as well then we should see a continuation of the overall bull trend.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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