S&P Trending Higher and Higher!

٩ مايو ٢٠٢١

Friday’s candle confirmed a continuation of the uptrend with a break and close above the
previous high. Record highs are consistently being made in the S&P 500, and we could go on
to see a trend lasting the rest of the year.

The current trend is using the 20 and 50 simple moving averages as support. The most recent
pullback came down and bounced off the 20 simple moving average.

Both UK and US stocks are continuing to perform well, and many are offering us compounding
opportunities. Stocks that are breaking out from long-term consolidation are forming neat
linear bullish trends.

As we advance, both the 20 and 50 simple moving averages should continue to act as support.
With the 50 simple moving average near the $4000 round number, this cluster makes this zone
a strong level of support should price decline this deep.

As for now, the trend is strong and should remain so as long as we keep seeing higher highs and
higher lows being formed on the daily timeframe.

See below for more information on our trading techniques.

As always, keep it simple, keep it Sublime.