The S&P 500 price has been able to break and remain above the 4,700 level. This is a confirmation of the bullish strength.
The price has also managed to move and stay above both the 50-day MA (red moving average) and the 21-day MA (blue moving average).
This is another sign of strength from the bulls.
Now the price could continue the bullish momentum and move higher towards the resistance trendline at around 4800.
If instead, the price will move below the 4700 level, we could see another drop and test of the support trendline (the lower end of the rising channel), at around 4600.
The RSI is in Bullish/Neutral mode.
The market sentiment is staying in the “Greed” mode.
Investors feel more confident in the market now, after the recent bullish price action.
Overall, the price action looks still bullish in the daily timeframe and above, if we consider the higher highs and higher lows.
In fact, the price is still trading inside a rising channel and even when the price dropped below the key moving averages, in the past, it managed to move back above in a few days.
For this reason, I remain overall bullish on the stock market, for the time being.
Any correction gives us the opportunity to buy at lower prices.
In the short term, it means that my portfolio has gone down, but once the market will make new highs, I expect higher gains than usual.
I am doing my best to keep the risk score low. I have deposited new funds the other day, in order to do this.
I usually set stop losses at profit to protect the gains, but right now I don’t have stop losses, as I want to allow the profits to run.
Also, I have a few pending orders that will be filled if the prices keep dropping.
Some positions have been closed at profit in the last few days.
If you are a copier, please keep the copy open.
If you are thinking of copying me, now is the right time, but please remember to NOT copy the open trades to optimize the copy.
If your copy remains open but with no trades, be patient, it means that there are no new opportunities right now, so in this case, it’s better to wait instead of being invested in the market.
The positions will be opened when is the right time.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Now I am finally an official eToro Popular Investor.
I am aiming to raise my AUM to over $50,000, so I can become a Champion Popular Investor.
Thank you, everyone. Have a nice day!
Steps to follow to copy my portfolio automatically:
2. Verify your account and make a deposit of at least 200 USD (you can deposit in any currency, like GBP and EUR)
3. Go to my profile page: https://federicamontella.com/go/etoro-passionforprofit/
4. Start the copy (remember to NOT copy open trades and set the lowest stop loss possible, to allow some movement)
5. Enjoy, it’s all automatic. You will make passive income 24/7
Let me know if you have any questions.
eToro Popular Investor