S&P 500 Index breaking levels

Trend following The S&P 500 Index today, trading at $2,811 at the moment, is trading under last month’s low of $2,848 and under last week’s low of $2,825, but above a major Price Reversal of $2,799 on the Weekly as shown on the stock chart below. If it rejects this level, and then closes higher on the Weekly, that will be a long term Bullish…aka BTD, or “Buy The Dip”.

S&P 500 Index Weekly

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S&P 500 Index – Weekly, End of week

The S&P 500 Index this week,  closed at $2,939.88.  which is a close over last week’s High, of $2,918, and over last Month’s High which was $2,860. So this is another in a continuing series of Bullish trend following signals, whether they be Daily, Weekly, Monthly.  As of today the Index is trending at or in excess of a 15% annualized rate of growth over a 200 day ma look back. The Index has yet to close over the all time intraday High of $2,940. 91.

This chart is the S&P 500 Index Weeklies:

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