The S&P 500 made yet another intra-day ATH on increasingly bullish weekly momentum. The 2380 - 2405 S/R area may be tested over the next few weeks before the next leg-up, however, a breakdown below 2350 support may negate this view.
So what's the chance the FED will stop pumping this thing up, along with its European affiliates in the current economic environment? Zero if they want to raise interest rates, and more than zero if they want the free market to prevail.
The MACD formed a bullish up-cross during mid-Q4 with an expanding positive histogram. The histogram has reduced since, however has recently expanded negligibly, over the past couple weeks. The Stochastic has remained within the bullish continuation region for over 12-months now, threatening to fall-out twice. Once during 4Q16, and more recently during 2Q17, however, the cavalry arrived both times to save the day. The question is, will they arrive for a third time? http://bit.ly/2rL3Q5a
Take it to the moon. The central bank with just keep inflating into oblivion.
Yes the FED will probably keep pumping markets up, however, I am looking for signs of weakness in EM's and Commodity economies as the possible canary in the coal mine. The Aussie, Brazil and Chinese stock markets are looking sad and on the verge of Bear Markets. Perhaps the canary is dead..
Congratulations @jagstertrading! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!