What a rally today are bulls back in control?
S&P500 Trend Analysis – SPX (EoD) Chart
More the 1% gain brings bulls back party but they may not fully controlled until we close above 50 EMA 5150 levels
Hourly changed to up today but daily trend is still down.
Day price closed just above 20 EMA and touched 50 EMA today which is positive.
now 5040 may act good support and 5100 is good resistance.
Most earning are good side but Tesla as worse the forecast
In my view tomorrow we may see green opening but there can profit booking later on. I will eye on bond yield and oil and gold price. Overall seem like can be range bound day with 1% move on SPX.
Please note these are just ideas and only opinions and not a financial advice.
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