S&P 500 - All Time Highs, Price Action Still Bullish | Jun 18th

spx500

S&P 500 – Makes All Time Highs
Gaining now for the fourth day in a row, the S&P 500 has made a new all time high, with an intra-day print of 1958, closing just above 1956. Generally this year, when the major US index has formed a new yearly high, there was a pullback before we’d print a new high, and I think that pattern will hold now as there is nothing in the price action suggesting a trend change.

Our Trade Idea: I’ll look for a corrective pullback to the dynamic support and daily 20 ema + support zone around 1927, which is also a role reversal level. Above this level, we’ll maintain a bullish bias and look for …

... Keep reading
12