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S&P 500: price went above 50 SMA but it's still in consolidation

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S&P 500 positive sentiment still controls the market

The index went above the 50 SMA which increases the possibility of a new upward trend

While the index is still in 2174-2155 consolidation and everything is possible

Only a breakout at one of these levels will give us a signal for a possible continuing movement and a good spot for position opening.

It is not a bad time to open a long position as indicators and the price movement are in bullish territory and might stay there for a while.

Stefan D. Angelov - Head of Stocks Trading


 Varchev Traders

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