Technical Analysis – US 500 index edges sideways; uptrend still intact
Posted on April 28, 2021 at 6:15 am GMTThe US 500 stock index (Cash) is consolidating just beneath its fresh all-time high of 4,198 by sustaining some footing off the mid-Bollinger band around 4,173. Positive momentum is present after sellers failed on two occasions to overturn the bullish bias by steering beneath the 50-period simple moving average (SMA). However, currently, the necessary impetus to steer the index higher is frail. The bullish SMAs are defending the ascent, while the short-term oscillators are conveying mixed signals in directional momentum. [..]