3 min readS&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.
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