S&P Bounces off $3000
The S&P 500 is having a good week so far and as things stand, it looks set to continue
the bull trend for some time.
Back in May, price broke above the $3000 round number and was looking strong and heading
towards the all-time high at $3393. As to be expected, price pulled back which is the case with
trends and came back to a major support level.
Price pulled back to the $3000 psychological round number. This level also coincides with the
daily 200 simple moving average (not shown).
After ending last week around $3000, the bulls have been able to bounce price off the support
level and the uptrend appears to be continuing as it left off.
It can be hard to believe that price has risen 43% following the fast declines we saw during the
pandemic but the technicals do not lie. As the market remains bullish, we will continue to look
for long opportunities in the best trending stocks. We share some of these stocks in our community.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
the bull trend for some time.
Back in May, price broke above the $3000 round number and was looking strong and heading
towards the all-time high at $3393. As to be expected, price pulled back which is the case with
trends and came back to a major support level.
Price pulled back to the $3000 psychological round number. This level also coincides with the
daily 200 simple moving average (not shown).
After ending last week around $3000, the bulls have been able to bounce price off the support
level and the uptrend appears to be continuing as it left off.
It can be hard to believe that price has risen 43% following the fast declines we saw during the
pandemic but the technicals do not lie. As the market remains bullish, we will continue to look
for long opportunities in the best trending stocks. We share some of these stocks in our community.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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