S&P 500 Market Analysis Today:
Stocks are still climbing! The S&P 500 Futures is up again this morning, rising approximately a fourth of a percent from yesterday’s close, to 6363 points, building on its recent winning streak. Yesterday, it hit another record high, even though the Nasdaq paused its run.
What’s Driving the Market?
Yesterday on our Telegram Channel (@investingLiveStocks), I highlighted the key resistance line that S&P 500 E-mini Futures were struggling to break. Today, the bulls have clearly taken control, pushing the price firmly above this resistance.
More significant than that resistance line, however, is the purple VWAP line I pointed out in today’s video. Anchored from the breakout of the previous multi-month All-Time High, this VWAP confirms bullish momentum.
If you watch the S&P 500 futures technical anlaysis video above, you will see a straightforward yet professional way of reading the market’s story through technical analysis. It indicates that bulls currently dominate the market sentiment.
IMHO, shorting right now doesn’t make sense, especially with Alphabet’s earnings coming tonight. Here’s one clear reason to avoid shorts.
Remember: These are my personal opinions, not financial advice. Always do your own research and manage your risks carefully when trading S&P 500 Futures.
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