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)

chart of sp 500

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.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.