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 US stock market apocalypse and catastrophe bloggers, teevee pundits, and podcasters will have to push off their doom predictions (personal opinions) into the future again. The S&P 500 Index is taking out Monthly, Weekly, and Daily S/R (Support and Resistance Price Levels) aka Price Reversals. The chart below is the Index Monthly S/R Price Level.