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Strategies & Market Trends : News Links and Chart Links
SPXL 219.24+2.0%Nov 26 4:00 PM EST
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To: Les H who wrote (27976)7/10/2023 9:55:13 AM
From: Les H1 Recommendation

Recommended By
Sam

   of 29600
 
The large-cap benchmark remains supported by the rising 20-day moving average at 4382 and major moving averages continue to fan out in a bullish manner, providing a number of other points of reference below to catch the benchmark should it fall. But while the index is showing more characteristics of a bullish trend than a bearish one, evidence of short-term waning upside momentum that was derived following Thursday dip can continue to be picked out as investors express their reluctance to commit new funds following the parabolic rise in prices into the end of last quarter. A pullback to the recent breakout zone of 4200 is still fair game, but we continue to give the traditional summer rally period that spans the last week of June and the first few weeks of July the benefit of the doubt while remaining cognizant of the most volatile period for the market directly ahead spanning the months of August and September.

equityclock.com
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