S&P500 daily chart shows rising double peak, but corresponding falling RSI peak. Bearish.
S&P500 and effects of QE 1-4 Color coded. QE 1 through the present day QE 4. Each Quantitative period in their own color band.
S&P500 (Weekly log chart) testing long term UpTrend suport line.
SP500 index- Secular bullrun since 2008. Marked mostly by periods of green UpTrend lines. Punctated by short periods of consolidation in purple rectangles.
NB. Long term upterm on daily log chart, and bullish RSI divergence marked by red and green lines.
Last green candle from Oct 16th, moved the SP500 above it's 200-day MA and its uptrend line (started in Jan 2016).
Long term S&P500 log chart. Support as arrowed.
SP500 index- major Uptrend line breach at red arrow . Uptrend commenced early 2016. Either sideways consolidation next, followed by UpTrend continuation OR formation into a trend reversal to a new down trend. More candles required for either to be confirmed.
S&P500 index - Weekly chart. Healthy UpTrend. Red line since 2009 to 2015. Sideways consolidation around 2015. Pink UpTrend line from 2016-present.
Look at past S&P500 'classic' Double Top reversal formations (double equal height arrows). Current price breakout is unlikely to complete into a Double Top reversal formation, since the second peak (green arrow)is significantly higher than the first peak. Double Tops A double top forms when the price makes a high within an uptrend, and then pulls back. On the...
IVV- 'A picture of Power' To quote Oliver Velez Price action above the rising 20-day simple moving average, which in turn is above the 200-day simple moving average.
If S&P500 index, reaches new highs around where the Astrix is and takes out previous 2850, then UPTrend line B takes precedence over UPtrend line A. As seen by the prior long UPtrend line 2009-2015, Uptrend lines can remain in place for a very long time once established.
IHVV (iShares S&P 500 AUD Hedged ETF). Long term UpTrend continues.