The long-term trend in the S&P 500 is up and nothing over the past 6-weeks has changed that trend!
The original article has been edited here for length (…) and clarity ([ ]) by munKNEE.com – A Site For Sore Eyes & Inquisitive Minds – to provide a fast & easy read.
The chart below reflects that the long-term rally in the S&P 500 has it kissing the underside of two long-term rising channels at (1) and bulls certainly…do not want to see selling pressure getting started!
Below looks at key indices on a shorter-term perspective:
Six of the eight key indices remain below highs hit back in January. Micro & Small Caps closed at January highs last week.
Bulls want to see the January highs taken out. They don’t want to see lower highs and selling pressure get started!