S&P 500 Retains Bullish Trajectory -- This Chart Shows Why
The S&P 500's surge on Tuesday shows that it remains on an upward trajectory. The 2030 support level will continue to be the 'line in the sand' for the bulls.
The S&P 500I:GSPC surged higher on Tuesday after bouncing up from the key 2030 support level on Friday. This price action is in line with our earlier forecasts that any pullbacks would find strong support at 2030. That level remains the "line in the sand" for bulls, and we will continue to look to be buyers on any weakness toward that level.
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This article is commentary by an independent contributor, separate from TheStreet's regular news coverage. At the time of publication, the author held no positions in the stocks mentioned.
