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.

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