S&P 500 Index Nears Important Long-Term Trend Support

But rather than zooming in on the short-term, sometimes it’s good to zoom out and look at the long-term technical picture. And in today’s case, it may very well lead us to the short-term outcome as well.As you can see, its multi-decade trend remains up at each . And its long-term trend remains up at each .

But this is where things get tricky. The peak in 2021 came at the long-term trend channel resistance. We then turned down from there. We then saw a small bounce off the 14-year uptrend line marked by before making a lower high. And now the price is compressing at . So while the trend remains higher for now, it is very important what happens in the coming weeks. Let’s say that the bulls need support to hold at . Stay tuned.U.S. economy has stayed resilient despite looming recession fears and rate hikes Meanwhile, the S&P 500 has retained its long-term bullish trend despite occasional setbacks...Daily charts show indexes in a bit of a freefall, so the focus shifts to weekly timeframes.

Gold Mining Stock Charts Have Not Yet Confirmed a Sustainable Rally, and Q3 Fundamentals May Be a HeadwindWe have used this daily chart of the gold stock ETF, GDX in...We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.

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