S&P Only Just Scrapes A New Record High
Just a week ago traders were experiencing high emotions as the markets experienced its regular
pullbacks but now price is proving how resilient it is by continuing to create new record highs.
Since November 2020 when a previous all-time high was broken at $3588, price had been on a
gradual rise using the 20 simple moving average as support but the most recent pullback came
down to the 50 simple moving average which gave price that much needed boost.
This proves yet again that price should be the main focus and not the news which was recently
focusing on the market declines. Once you have the technical aspect in place and are able to
identify major levels of support and resistance then you will be miles ahead of other
traders and investors.
Although price has only just about scraped past the previous all-time high, the markets remain
bullish and should continue to rise until there are strong indications to prove otherwise.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
pullbacks but now price is proving how resilient it is by continuing to create new record highs.
Since November 2020 when a previous all-time high was broken at $3588, price had been on a
gradual rise using the 20 simple moving average as support but the most recent pullback came
down to the 50 simple moving average which gave price that much needed boost.
This proves yet again that price should be the main focus and not the news which was recently
focusing on the market declines. Once you have the technical aspect in place and are able to
identify major levels of support and resistance then you will be miles ahead of other
traders and investors.
Although price has only just about scraped past the previous all-time high, the markets remain
bullish and should continue to rise until there are strong indications to prove otherwise.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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