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SP500 Index: Break Out ?
May 15 ( From Tradeview )
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​​​​The Situation

We have been in one of the most Bullish Stock Market in history
​since 2009.​The Mighty SP500 Index from a low in March 2009
​of 666.79 to the closing on May 14 2015 at 2121.10 rose by a
​factor ​​of 3.18 spurred by low interest rates and strong buybacks
​from ​​US corporations.

​​SP500 Index: Finally a Break Out ?

​​We ​finally broke on May 14 a Major Daily Resistance Trendline from
​an ​Ascending Triangle Pattern at ​2113.5 that started on February 25.
( Top Red Trendline - Chart Below - Ellipse )

​​​For me, to be consider as a Real Break OUT, we should not close
back below that Trendline ( now Major Support ) for today at ​2112.5.
Failing to do so will be consider a Failed Break Out.

Take note that we already broke on the upside on May 8 the ​​20 DMA then at 2101.5 and the 50 DMA then at 2089.1, a godd technicals sigh indeed back then. ( See chart Below - 20 DMA - Yellow Line - 50 DMA - Red Line )

Next Real Technical Challenge will be at the 2165 level from a Major Resistance Trendline that started back on April 2011. ​( See second Weekly chart Below - SP500 Daily - Top Red Trendline - Ellipse )

 Louis Pasteur 
"Chance favors the prepared mind."

SP500 Index: Break Out   $SPY, $SPX, $ES_F  #Trading #Investing #SP500 #stocks

SP500 Index​​ Daily ( Candles )
​SP500 20 day moving average  ( Yellow Line )
SP500 50 day moving average ( Red Line )​

SP500 Index​​ Weekly ( Candles )