SPX/SPY Broke Through Top of 5 Day EMA. Potential Big Bull.

Long

Indice S&P 500 (OANDA:SPX500USD)

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OANDA:SPX500USD Indice S&P 500

Please ignore cup and handle and other meaningless trendlines. For the past week of trading SPY/SPX have been bouncing off of the 5 day EMA repeatedly. SPY bedded down on top at close today (4/2/2020) after dipping down below for the day on 4/1/2020. This could be a very bullish indication.

Commentaire:

Cup and handle ended up forming perfectly. If you hit the play button on the graph you will see it follow the predicted form nicely.

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