Stating the Obvious. SP500 is in a Bull Market

It’s always nice to end the week with the obvious and you don’t get much more obvious than this bullish setup on the S&P 500.

S&P 500 Daily:
Click on chart to see a larger view.

The SP500 daily chart simply shows the textbook bull market that we’ve spoken about on the blog previously.

Look left to right and you can see that price is going up. You really don’t need me to draw a trend line to show you that it’s in a bull market no matter which higher time frame chart you click on.

S&P 500 4 Hourly:
Click on chart to see a larger view.

Inside the higher time frame bullish trend, price has been drifting sideways and printed what looks to me like some sort of flag.

Are you looking for this to act as a continuation pattern? Let us know how you’re looking to trade the indices market by mentioning @VantageFX on Twitter.

Trade indices on MT4 with Vantage FX.

Dane Williams – @VantageFX

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Source: Vantage FX Blog