S&P 500 Continuing Its Ascent!

6 февр. 2020 г.

The S&P 500 proved resilient following its breakout from consolidation in October 2019, going on to
rally 10%, reaching a high of $3,337 on the 27h January 2020.

With strong moves in price we can expect to see price become exhausted at some point which is
what took place here. Price pulled back and reached a low of $3,214 which also came close to the 50sma.

The 50sma zone held price up as it was used as a support area. Following this, we have seen good bullish
momentum in price with two consecutive days of price gapping up.

As we are in an overall bullish market in stocks, we can expect to see strong trends followed by pullbacks
and even periods of consolidation. We have to hold strong during these periods and avoid exiting
positions too early. This is how big returns are made, by holding positions long enough to compound on them.

Price is currently trying to move above the recent high at $3,337 and if it succeeds the this will confirm
a continuation of the uptrend.

See below for more information on our trading techniques.

As always, keep it simple, keep it Sublime.