S&P Recovery - 10% So Far
The S&P 500 continues to recover from the recent declines that started at the
beginning of the year. From the low in February, price has climbed up 10% so far.
A few weeks ago price moved back above the 50 simple moving average, which
turned from resistance to support.
The market looks a lot different than it did while it was falling during January and
February, when everyone was calling for a market crash.
This did not unfold and instead, we are seeing a recovery taking place. To be on
the safe side, before we confirm a trend continuation, we need to see price break
and close above the all-time high from January 3rd 2022 at $4818.
Patience is needed for now.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
beginning of the year. From the low in February, price has climbed up 10% so far.
A few weeks ago price moved back above the 50 simple moving average, which
turned from resistance to support.
The market looks a lot different than it did while it was falling during January and
February, when everyone was calling for a market crash.
This did not unfold and instead, we are seeing a recovery taking place. To be on
the safe side, before we confirm a trend continuation, we need to see price break
and close above the all-time high from January 3rd 2022 at $4818.
Patience is needed for now.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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