S&P 500 facts you don’t see in the news

We have our first snow here in Northeast Ohio today. The weather has definitely changed. It has been very cold all week. I know this because I can see the snow and feel the chill when I am outside. But observing the conditions of the stock market are not as easy. There are many opinions to sift through, some informed and others just loud.

So when I look at the market I try to look at the one truth: price. Price can tell a lot as it reflects the current consensus of all market views. How price action gets filtered is how we are influenced and biased into particular views. So today I want to present several items around price without any filter. Here is the data set for you to make your own assessment.

The S&P 500 is up nearly 8% from its October 29th low.

The October 29th low was a higher low following a higher high on weekly and monthly charts.

The S&P 500 is back over its 200 day SMA.

The S&P 500 closed over its October 16th bounce making a higher high.

Deep levels of the MACD (momentum) have reversed and it is rising.

RSI (also momentum) made a higher low on October 29th and is now near the bullish zone.

The Bollinger Bands® are opening as price rises to the top of them.

This is a magical time of year in Cleveland. It was a great season for the Tribe but ended in disappointment. Now the Browns and Cavs are starting up and playing this weekend. It makes me want to start the Fall sale I am so giddy! Starting today, you can get 20% off an annual subscription. That is only $600 for a $750 annual subscription. Don’t miss out! Subscribe here.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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