S&P 500 Just Breached This Major Moving Average Level

The Daily View for S&P 500

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  • It’s been a feast for bears operating on the daily timeframe, as S&P 500 has now gone down 9 of the past 10 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 20 and 50 day moving averages, resulting in them so that price is now turning below them. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of S&P 500.

SPX

Featured S&P 500 Idea From TradingView

Below is a trading comment entitled share will continue to rise and the total market value is likely you may find interesting:

On 30th August, AAPL increased by 3.04%, the biggest daily increase since March 2020, to $153.12, revising all-time high, and the total market value of AAPL exceeded $2.5 trillion. I believe Apple share will continue to rise and the total market value is likely to reach $3 trillion. The reasons are as follows for your reference. Apple’s revenue is growing rapidly According to Apple’s latest quarterly financial report, Apple’s third-quarter sales reached $81.41 billion, a year-on-year increase of 36%, higher than the market’s previous estimate of $73.3 billion. Apple’s gross profit margin reached 43.3%, higher than the previous forecast of 41.9%.I believes that, according to Apple’s financial report, it shows that its growth is still strong. At this rate, it will not be difficult for Apple to hit a market value of $3 trillion in half a year. The return rate of Apple shares exceeded 32% in the past 10 years If you invested $1,000 in Apple shares in August 2011, your shares are worth more than $16,000 today. If all dividends are reinvested, the annual rate of return will exceed 32%, while the annu…

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