S&P 500 Strengthening Through February

16 ก.พ. 2021

The US market was closed on Monday due to Presidents Day but closed the previous week
on a high making a new all-time high. As this is the first trading day of the week, there is
little activity so far but we may see the momentum continue to push price higher this week.

Alternatively, the market could pull back towards the 20sma or the 50sma. Just above these
indicators, we have the previous all-time high at $3870 which may also act as support.

The trend at the moment is strong and linear in nature and edging ever closer to the $4000
round number. This psychological level of resistance could force price around or we may see
some turbulence here before price continues on its ascent.

As far as we know, the market is bullish overall and stocks are still performing well so we can
expect this trend to last for a number of months and potentially over a year.

Our goal during the trend is to compound on winning positions and maximise our returns along the way up.

See below for more information on our trading techniques.

As always, keep it simple, keep it Sublime.