Will The S&P 500 Index Clear All Time Highs This Week?
Hello traders!
These are interesting times we are in right now! National pandemic, yet our markets are rising day after day!
I'm doing my weekend review, charting, homework, reviewing lessons, celebrating wins and getting ready for next week and wanted to share my analysis for the S&P500 index.
This has recently become my favorite chart to trade due to volatility and how beautifully it moves!
Anyway, we can see that price wicked an all time high on 3/11/21 and retraced back down before making another run up towards the same highs at the end of this past week.
Analyzing the Daily chart I am seeing strong bullish sentiment solely considering the candle sticks, however we must consider the fact that we are at an all time high!
So the question is: Will it break the all time high this week?
My sentiment is bullish and always be bullish since that is all that this chart has done over the long run, but with such a strong rejection of this point in the past, we must keep in consideration the fact that it may do it again!
I'm excited to see what happens this week, its so interesting to see the rise of our markets during such crazy times in our world
Let me know what you think below, thumbs up if you agree!
These are interesting times we are in right now! National pandemic, yet our markets are rising day after day!
I'm doing my weekend review, charting, homework, reviewing lessons, celebrating wins and getting ready for next week and wanted to share my analysis for the S&P500 index.
This has recently become my favorite chart to trade due to volatility and how beautifully it moves!
Anyway, we can see that price wicked an all time high on 3/11/21 and retraced back down before making another run up towards the same highs at the end of this past week.
Analyzing the Daily chart I am seeing strong bullish sentiment solely considering the candle sticks, however we must consider the fact that we are at an all time high!
So the question is: Will it break the all time high this week?
My sentiment is bullish and always be bullish since that is all that this chart has done over the long run, but with such a strong rejection of this point in the past, we must keep in consideration the fact that it may do it again!
I'm excited to see what happens this week, its so interesting to see the rise of our markets during such crazy times in our world
Let me know what you think below, thumbs up if you agree!