OVER 50% OF SPX NAMES REMAIN ABOVE 200 DAY MOVING AVERAGE,AND OVER 70% IS STILL ABOVE 50 DAY MOVING AVERAGE, NOT ONLY THAT
BUT THE CASE SEEMS TO BE BULLISH
......THAT
- SPX IS ABOVE BOTH MOVING AVERAGE
- THE 50 DAY MOVING AVERAGE HAS CROSSED BACK ABOVE THE 200 DAY MOVING AVERAGE
- SPX HAS MADE A SERIES OF HIGHER LOWS
- SPX LONG TERM UP TREND IS STILL INTACT
- BOTH MOVING AVERAGES ARE IN AN UPTREND