| Followers | 679 |
| Posts | 140715 |
| Boards Moderated | 37 |
| Alias Born | 03/10/2004 |
Monday, April 24, 2017 7:25:34 PM
Has S&P 500 Finally Snapped its Malaise?
By Almanac Trader | April 24, 2017
After spending all of March and a majority of this month in a funk, S&P 500 (and the rest of the market) responded favorably to France’s election results today. Today’s 1.08% S&P 500 gain was the first advance exceeding 1% since March 1. The surge higher was sufficient to propel S&P 500 back above its 50-day moving average. Stochastic, relative strength and MACD indicators are also all positive. April could still manage to live up to its historical reputation.
Today’s gains and the improving technical outlook could mark the beginning of the typical rally seen in years when our January Trifecta was positive. If this is the case then a few more days of modest gains (black arrow in chart below) could be followed by a swift move back toward all-time highs (green arrow).
http://jeffhirsch.tumblr.com/post/159952046073/has-sp-500-finally-snapped-its-malaise
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By Almanac Trader | April 24, 2017
After spending all of March and a majority of this month in a funk, S&P 500 (and the rest of the market) responded favorably to France’s election results today. Today’s 1.08% S&P 500 gain was the first advance exceeding 1% since March 1. The surge higher was sufficient to propel S&P 500 back above its 50-day moving average. Stochastic, relative strength and MACD indicators are also all positive. April could still manage to live up to its historical reputation.
Today’s gains and the improving technical outlook could mark the beginning of the typical rally seen in years when our January Trifecta was positive. If this is the case then a few more days of modest gains (black arrow in chart below) could be followed by a swift move back toward all-time highs (green arrow).
http://jeffhirsch.tumblr.com/post/159952046073/has-sp-500-finally-snapped-its-malaise
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
