Stocks Analysis by Declan Fallon covering: S&P 500, Dow Jones Industrial Average, US Small Cap 2000, iShares Russell 2000 ETF. Read Declan Fallon's latest article on Investing.com
So the Trump Bump continues to play out in favor of bulls. Tuesday delivered a clear breakout of the downward channel with only the 50-day MA left to play as resistance.
Neither did much beyond their opening gaps, but the S&P 500 is challenging its 'bull trap' on net bullish technicals. Despite this, the index is underperforming the Nasdaq. Volume was a little light, but another upside day would likely bring with it a bull cross in On-Balance-Volume and therefore a new net bullish technical picture.today will be interesting as near-term stochastics are overbought . Look for a short attack.
However, if there is a down day, but indices manage to stay near highs, then the chance of the week finishing at new all-time highs will be quite high.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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