S&P500 (SDX):
The S&P 500 has shown strong price momentum over the past few weeks, reaching new all-time highs. For the first time in history, it’s trading above $5,800. If the price pulls back, I’ll be watching the internal ascending trend line closely to see how it holds as potential support, especially since it aligns with the daily 50 EMA.
The RSI indicator isn’t currently signalling that the market is “overbought,” suggesting there may still be room for upward movement. However, I’ll be closely monitoring to see if we approach or exceed the critical 70% level, which could indicate a shift in momentum.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.