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S&P 500: Bulls Are Coming Back?

The broad stock markets gauge extended its advance following Mondays upward turnaround from the local low of 4,582.24. The broad stock market continues to trade within an over two-month long debt consolidation. Last week, Apple stock broke below its two-month long upward pattern line after reaching the brand-new record high of $182.94 on Tuesday. The broad stock market will retrace more of the recent declines. Subscribe for our daily newsletter today, and youll get 7 days of FREE access to our premium daily Stock Trading Alerts as well as our other Alerts.

Apple Bounced From the $170 Price Level.
Recently, Apple stock broke below its two-month long upward pattern line after reaching the brand-new record high of $182.94 on Tuesday. Far, it looks like a downward correction and the nearest essential support level is at $165-170, marked by the previous highs and lows. The stock trades within an over month-long debt consolidation of around $170-180.
Is this a medium-term topping pattern? Its getting extremely difficult to fundamentally validate the Apples current market capitalization of around $3 trillion.

Stocks retraced some more of their recent declines on Tuesday. Will the market continue greater following todays customer inflation data?

Conclusion.
The S&P 500 index is anticipated to open 0.4% higher this early morning following the Consumer Price Index release which was slightly greater than anticipated at +0.5% m/m. The broad stock market will backtrack more of the recent declines. Nevertheless, we might see an earnings taking action later on in the day.
Heres the breakdown:.
The S&P 500 extended its short-term uptrend yesterday. It may be still a correction within a drop or some more debt consolidation along the 4,700 level.
In our opinion no positions are currently validated from the risk/reward point of view.
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Thank you.
Paul Rejczak,.
Stock Trading Strategist.
Sunlight Profits: Effective Investments through Diligence and Care.
The details above represents analyses and viewpoints of Paul Rejczak & & Sunshine Profits associates only. As such, it might prove wrong and be subject to change without notice. At the time of composing, we base our viewpoints and analyses on realities and information sourced from particular essays and their authors. Formed on top of cautious research and reputably precise sources, Paul Rejczak and his partners can not guarantee the reported informations accuracy and thoroughness. The viewpoints released above neither advise nor offer any securities transaction. Mr. Rejczak is not a Registered Securities Advisor. By reading his reports you fully concur that he will not be held responsible or accountable for any decisions you make relating to any details offered in these reports. Investing, trading and speculation in any financial markets may involve high danger of loss. Paul Rejczak, Sunshine Profits staff members, affiliates in addition to their member of the family might have a long or brief position in any securities, consisting of those pointed out in any of the reports or essays, and might make extra purchases and/or sales of those securities without notification.
Updated on Jan 12, 2022, 2:56 pm.

Q4 2021 hedge fund letters, conferences and more Another Strong Year For Read MoreThe S&P 500 index acquired 0.92% yesterday, as it got back above the 4,700 level. The broad stock markets gauge extended its advance following Mondays upward turnaround from the local low of 4,582.24. The broad stock market continues to trade within an over two-month long debt consolidation.
On Dec. 3 the index was up to the local low of 4,495.12 and it was 5.24% listed below the previous record high. It was a quite moderate down correction or just a consolidation following last years advances.
The nearby important resistance level is at 4,700-4,720 and the next resistance level is at around 4,750. And the essential assistance level is now at 4,580-4,600, marked by Mondays daily low.

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