The SP500 has a remarkable run since 2009, not least due to all that quantitative easing.
Calls for an end to QE and consequently rising interest rates have been growing ever since the latter part of 2014. Since Jan 2015, the SP500 has been ranging in a fairly narrow range and to be honest, it's getting a bit boring.
D+ has just this month crossed below 20 and ADX is pretty much flat, albeit at a nice high level above 40. A cross below 40 would kind of suck while both D+ and D- are below 20, because it suggests more ranging. I'm hoping (should never do that, I know) for a break of either 2125 or 1967 because that would mean the SP500 might start trending again.
If 1967 breaks, I'll target 1735 as the next strong support level. To the upside...who knows, just buy if it continues going up through 2125 and use your preferred trailing stop. Don't question why it's going up either, that cost a lot of people a lot of money and missed opportunities since 2009. Just buy because don't question fundamental logic, that's why! ;)
Calls for an end to QE and consequently rising interest rates have been growing ever since the latter part of 2014. Since Jan 2015, the SP500 has been ranging in a fairly narrow range and to be honest, it's getting a bit boring.
D+ has just this month crossed below 20 and ADX is pretty much flat, albeit at a nice high level above 40. A cross below 40 would kind of suck while both D+ and D- are below 20, because it suggests more ranging. I'm hoping (should never do that, I know) for a break of either 2125 or 1967 because that would mean the SP500 might start trending again.
If 1967 breaks, I'll target 1735 as the next strong support level. To the upside...who knows, just buy if it continues going up through 2125 and use your preferred trailing stop. Don't question why it's going up either, that cost a lot of people a lot of money and missed opportunities since 2009. Just buy because don't question fundamental logic, that's why! ;)
