Dow Jones and S&P 500: Market Breadth
The Dow Jones' market breadth is maintaining its strength. 90% of the Dow Jones stocks traded above their 200-day moving average.
The S&P 500 stock breadth is overcoming its challenges. 91% of the shares traded above their 200-day moving average.
Technical Analysis S&P 500: Why Bulls Are In Control
After recording two consecutive weeks of gains, the S&P 500 traders have decided that it is time to book some profit. The S&P 500 has started the week on the back foot and futures are trading lower today. Last week, the S&P 500 index recorded another record high and looking on the weekly chart, it seems we could continue to see more record highs as the price is still making higher highs and higher lows. In addition to this, the S&P 500 is also trading above the 200-100 and 50-week moving averages on the weekly time frame—a further confirmation of the bull trend.
The near term resistance will remain at the all-time high with a possibility of new all-time highs that can push the price towards 3,800. As for the support, it is at 3,667.
