Comparing the price over 50 days against a 10% annualized growth rate, the Index is trading 1.6% above.
Comparing the price over 200 days against a 10% annualized growth rate, the Index is trading 4.3% below.
trendfollowing the S&P 500 Index
$SPX $SPY the index is trading down towards a previous breakout area (Support and Resistance) of $2,739. We’ll see how it reacts to that price area. #trendfollowing #investing #trading
Pure trend-following, no forecasts, no predictions, no opinions.
S&P 500 Index trading below support
$SPX $SPY 21 day, daily S/R (Support and Resistance) the index failed to take out Resistance of $2,790 and is now trading under support of $2,767 #trendfollowing #investing #SP500
looking at the 21 day, daily trend
Looking at the Daily Price Reversals. Let the Market speak. NDX $7,084 SPX $2,779. #trendfollowing #investing #stocks
S&P 500 Index Daily S/R (Support and Resistance Price Level) 1 hr before the close $2,779
Nasdaq 100 Index S/R $7,084
PS – Would someone please send to us one accurate GDP Forecast, by The Fed, ever?
Looking at daily S/R (Support & Resistance Price Levels), a close this week over $2,813 would be major progress in the continuation of Upward momentum. This area is on the Daily, Weekly, and Monthly Bullish Reversal Price Levels. This is textbook (classic) channel and/or Breakout trend following strategy.
A Bearish Price Reversal on the daily is at $2,783.
The market will tell what it wants to do.
Looking at the Daily, a Bullish S/R (Support and Resistance Price Level) is found just overhead at $7,161. A close above this week will give us a clue as to the direction the market wants to go.
A Daily S/R Level in the Bearish side is found at $7,085. We’re looking for direction. The market will tell us if we let it.
Pure Trend following. No news, no White House Tweets, no forecasts or predictions.