Trend following The S&P 500 Index (SPX), the trend monitor is long term Upward, and is trading over the Monthly High of June of $2,964.00, as shown on the stock chart below:
S&P 500 Index
the Upward trend continues
the rally is stalled
Trend following The S&P 500 Index (SPX), end of week after the close, closed down on the Week and Up on the Month. (lookbacks). The Index remains in a long term Upward trend. It is trading at or above a 10% annualized rate of growth over a 200 day ma.
We can see on the stock chart below, the The Index has been struggling with S/R (Support and Resistance Price Reversals) at $2,950. The rally momentum has stopped. So this is not a Weekly buy signal. On a Monthly basis, and on a long term Uptrend, sure why not?
S&P 500 Index stock chart, Weekly:
Today the S&P 500 Index has re-established a long term Upward trend. It has crossed above a trend momentum measure of, at or above, a 10% annualized rate of growth over a 200 day ma. Additionally today, it is trading above last weeks high.
Which do you like? The 10 year US Treasury Note today is yielding 2.13%, and many around the world are 0%.
So we’ll see how the day and the week close.
Trend following uses price action, and ignores news, tweets, FaceBook, hot tips, stock and economics “fundamentals”, and bubblevision (television).
The S&P 500 Index (SPX), in a long term Uptrend, today approaching the short term high of $2,885.
trendfollowing the S&P 500 Index