Technical Analysis – US 500 stock index rebounds on 50-day SMA, signaling new upside wave
Posted on January 23, 2019 at 12:52 pm GMTThe US 500 stock index found strong support level at the 50-day simple moving average (SMA), creating two consecutive red days, after the aggressive upside rally from the 19-month low of 2,332. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies above trigger and zero lines. A fresh wave of advances may stall initially near the latest highs of 2,675 before increasing chances for a jump towards the 61.8% [..]