Strong Momentum coming from the S&P500 since beginning of 2019. We've however now reached a top, where we could not see a break in Oct18, Nov18 and again on 25Feb19. Should the trend remain positive and we break and close above the 2815 level, we can very much go and test the highs (2940) again of last year Sep/Oct. The 50-day moving average is making a lovely little smile, telling us that the trend is nice and healthy.
Should we see another pullback, my first support will be the 200-day moving average at 2750. This will also be my stop loss, with a break most probably looking to test the 50-day moving average another 100 points or so, lower.
Should we see another pullback, my first support will be the 200-day moving average at 2750. This will also be my stop loss, with a break most probably looking to test the 50-day moving average another 100 points or so, lower.
Trade active:
First target reached