Chart Of S&P 500 Holding The Trend Line
Watch the trend-line on the chart of the S&P 500
A lot can change here today or this week if the rising trend-line as noted in the chart of the S&P 500 below fails to hold. You have a potential topping pattern - emphasis on "potential" - with a new all time high that was achieved a couple of weeks ago, followed by a lower-high achieved last week. Now that all goes away if SPX can breakout to new all-time highs this week.
Fail to do so and break the trend line shown below, and the bulls will have a problem on their hands.
S&P 500 Chart
(Click on image to enlarge)
Current Stock Trading Portfolio Balance:
- 5 long positions
Recent Stock Trade Notables:
- Broadcom (AVGO): Long at 218.63, Closed at 222.71 for a 1.9% profit.
- American Airlines (AAL): Short at 44.76, Closed at 44.03 for a 1.6% profit.
- UPRO (Day-Tade): Long at 95.35, closed at 96.50 for a 1.2% profit.
- OZRK: Long at $56.12, closed at $54.69 for a 2.5% loss.
- FNSR: Long at $34.25, closed at 34.70 for a 1.3% profit.
- UPRO (Day-Tade): Long at 96.92, closed at 98.03 for a 1.2% profit.
- JP Morgan Chase (JPM): Long at 87.21, closed at 89.67 for a 2.8% profit.
- Chevron (CVX): Short at 110.03, covered at 111.85 for a 1.6% loss.
- Flex Technologies (FLEX): Long at $15.62, closed at $16.57 for a 6.1% profit.
- Baidu (BIDU): Long at $174.70, closed at $187.00 for a 7.0% profit.
- Ollie's Bargain Outlet: Long at 33.20, closed at $32.50 for a 2.1% loss.
- Corning (GLW): Long at $26.98, closed at $27.45 for a 1.7% profit.
- Illinois Tool Works (ITW): Long at $127.74, closed at $129.86 for a 1.7% profit.
- Marriott Int'l (MAR): Long at $86.16, closed at $87.51 for a 1.6% profit.
Click here to download my Allocation Spreadsheet.