In my weekly analysis of the S&P500, I mentioned that the S&P500 on the weekly was still in a bullish uptrend. Fridays bar on the 4th August 2017 produced a No Demand signal in our VSA software. The start of the trading week, 7th August 2017 we have seen the S&P500 closed at its highest point for 2017.
With this sort of pricing action, the S&P500 looks destined to continue higher. Once again we have decreasing volume on this up move with another No Demand Signal in our software. If we get confirmation of this, we’re likely to see price continuing sideways. If price remains higher, then 2500 may be on the cards for the S&P500.
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Have an excellent trading day
Professional Investor and VSA Expert
Author of Supercharge Your Trading & Investment Account Using Wyckoff / Volume Spread Analysis