S&P trying life above 3000 again

Technical Analysis

Author: Greg Michalowski | sp

High reached 3004.14

The chatter about US China talks has once again helped to push the price of the S&P above the 3000 level. The high reached 3004.14.  We currently trade around 3001.78.  

High reached 3004.14
Looking at the hourly chart, the index moved back above the 50 hour MA (white line at 2996.28) and a topside trend line at 2998.59 currently.   The high from Friday reached 3006.02 and the high from last week (and all time high print) reached 3017.80 on July 15.  

Of course, we cannot forget the earnings calendar with Visa and Chipotle after the close. The likes of Boeing, Caterpillar, Facebook, Paypal, Tesla, et. al will be out tomorrow. Alphabet, Intel, Starbucks and Amazon report on Thursday.   Twitter and McDonalds are schedulded for Friday. 

earnings calendar

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