Today's rally is an emotional one, triggered by the news of a possible remedy for the virus. Technically analysis-wise, it's a moment of truth for the S&P 500. In 2008 (the 2nd chart) showed several mini breaches of the 50 day EMA (or 200 EMA) that turned out to be fake-outs. A breakout above them is the green light I'd be waiting for but I also have an unofficial 3 to 5 day confirmation rule where any breakout has to hold that long before I trust it. That's where we are now.
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