U.S. Stocks Are Surging, and They Can Still Go Much Higher
The S&P 500 index is in an uptrend, and these surges can last longer than many people think.
The S&P 500 index is in an uptrend, and these surges can last longer than many people think.
The S&P 500I:GSPC is essentially in a runaway uptrend right now. Based on recent history, these upward legs can last far longer than people tend to think, so avoid being on the short side while the uptrend remains intact.
Savvy traders need to be opportunistic and use any price weakness as a buying opportunity. Watch for pullbacks to the eight- or 21-day exponential moving average.
You may not see a clean price action buy signal, so the more experienced trader may elect to aggressively buy dips if we see any type of short-term pullback.
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This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
