Monday, February 13, 2017

2/13/2017: market update (Sp500)

The sp500 index today make continuous gap up today and close at 2328.25. With today's gap up, it had 3 continuous gaps in last trading days. It is extremely strong market, however, today's volume is light. Can the market make the bull magic tomorrow again? It is not a sure thing. But the technical indicators showed more upside ahead still:


  • MACD and PMO in golden cross
  • Sp500 bullish percentage index move back up again and stand above EMA 20
  • AAII sentiment back up to positive
  • ROC still point up and above its own EMA 20 



In summary, no matter tomorrow how the market will perform, the more upside is still highly possible. The upside ARC resistance trend line 2340 should be tested in next several trading sessions.
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