Trend for Position Traders
11/29/19… The S&P 500’s Position uptrend is fully intact as the index reached a new closing high last week and is supported by a Long-Term uptrend.
The S&P 500 index closed at $3140 on Friday and now sits just below a new all-time intraday high of $3154 reached on Wednesday. Year-to-date, the index has risen 25.76%.
Despite some recent profit-taking, the market is showing tremendous resilience amid hopes of a highly anticipated “phase one” trade deal between Washington and Beijing. For now, the S&P 500 index remains locked in a massive uptrend that enjoys plenty of underlying technical support levels.
Technically speaking, the S&P 500’s bull run continues to find solid support at its 14 EMA, which is currently around the $3115 area. The current price action is all unfolding well above major support just above the psychological $3000 level.
Support looks to be particularly important around $3025 so this area is worth watching on any pullback.
Three out of every four (75.1%) S&P 500 stocks are trading above their 200 DMA. We consider any figure above 80% to be extreme and is usually when we take profits and tighten stop losses in anticipation of a pullback or correction.
For now, the bullish price action is all taking place above a rising 14 EMA, 50 DMA, and 200 DMA.
Our Market Trakker alert system will keep you advised of the current broad U.S. stock market trend. Smart traders may take the opportunity now to research their favorite stocks and ETFs so that they can take advantage of the inevitable price moves!
When we detect a change in the major Long-Term trend, you will be notified again by email along with details on how we are responding to the selloff.
Long-Term Trend for Long-Term Investors
11/29/19… The S&P 500 Long-Term trend remains in a confirmed uptrend. When our Market Trakker system detects a change in the underlying Long-Term Trend in the S&P 500, this page will be updated and all current members will receive an alert by email.
- Market Trakker Charts – Updated Every Weekend
S&P 500 Index – Daily Chart
S&P 500 Index – Long-Term Trend Chart
(Last Long-Term Uptrend Alert on 4/5/19)
S&P 500 Index ETF (SPY) – 2 Year Weekly Chart
Updated: 11/29/19S&P 500 Futures Chart
Updates upon refresh during market hours
Percent of S&P 500 Stocks Above 200 DMA
(Measures market participation)
U.S. New Highs-New Lows
(Gauges internal trend momentum)
S&P 500 Index – P/E Ratio
(Current P/E valuation of S&P 500)
Min: 5.31 (Dec 1917)
Max: 123.73 (May 2009)
- Market Trakker Resources
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