Technical Analysis and Outlook
The S&P500 index closed higher and by doing so, obsoleted the relatively weak Key Res 3016. The higher-range closure sets the stage for a steady to higher advancement towards the Inner Index Rally 3040, and ultimately to the Outer Index Rally 3125 (The sixth phase). Currently, there are no significant resistance levels: the downside there is established Mean Sup 2976, and distance Key Sup marked at 2914.
The S&P500 index closed higher and by doing so, obsoleted the relatively weak Key Res 3016. The higher-range closure sets the stage for a steady to higher advancement towards the Inner Index Rally 3040, and ultimately to the Outer Index Rally 3125 (The sixth phase). Currently, there are no significant resistance levels: the downside there is established Mean Sup 2976, and distance Key Sup marked at 2914.
Comment:
To continue the rest of the S&P 500 story, see 'Stock Market Indices Commentary July 26, 2019 page, at TradingSig_dot_com.