This week has seen the S&P 500 make new record highs, which is far from what many investors expected to see during the middle of the global pandemic in March.
The previous all-time high at $3393 set back in February, was holding strong last week as we witnessed the buyers trying to claw its way above this level without success.
Price has been sailing higher for the past 11 years after a support level, just above $600, was formed and since then this index has risen a staggering 411%.
With the markets recovering so fast following the 35% decline in just a matter of weeks during February and March, price may well just continue on from where it left off and continue to create new all-time highs.
We are seeing stocks such as Apple and Tesla performing really well and with the S&P looking bullish once again, we should continue to see many more stocks follow suit.
When we see bullish activity, there is the possibility of feeling overwhelmed from an influx of strong trending stocks, so we must always remember to only look for the high probability opportunities in order to stack the odds in our favour.
See below for more information on our trading techniques.
Stop shilling people to get in US Stock market rn, this is immoral!
DonaldChump
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@vietlong98, facts, the Trends Journal projects the stock market will crash in September or October. Before Trump was President he said the stock market is in a bubble, in May 2020 Elon Musk tweeted the stock was overpriced for Tesla, yet it keeps gaining. Investors know more than the CEO apparently.
Sublime_Trading
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@DonaldChump, putting all that noise aside, the SPX is heading up. Keep it simple if you want to make money.
jeffreyedney
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@Sublime_Trading, Simple thinking is what wipes out entire investment accounts. This isn't a game for kids to play. Serious people with serious money will devour them as an appetizer.
@cicatriz, definitely not if you want to make money. if you don't then, by all means, keep doing what you are doing.
Sublime_Trading
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@vietlong98, I think you need to re-read what we have said above as it is just analysis. You may also want to rethink your understanding of what good investing is too.