S&P 500 Index trend investing update 07-09-2020

The S&P 500 Index (SPX), today midday, trading at $3,142, is, once again, running into that resistance at $3,155, ..as shown on the stock chart below, .. as noted before. Today is the 6th time it has tagged $3,155 and failed. Of course the mass media geniuses are assigning causality of the selling today to the tax documents. How do they explain the 5 previous failures to break out?

The index continues to trade under the trend investing benchmark filter of 20% annualized rate of gain over a 200 day average – Also known as CAGR – Compound Annualized Rate of Growth.

Blog comments welcome.

S&P 500 Index (SPX)

Published by Trendanomics

Trend trading analysis of the markets with simple trend trading strategies.

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