To The Moon

Like a phoenix rising from the ashes, the S&P 500 (NYSE:SPY) reaching new three-week highs. This impressive feat can be attributed to tech stocks flexing their muscles and the banking sector regaining its footing after a rocky few weeks.

S&P 500 reaches new three-week highs, driven by strong tech stocks and a recovering banking sector. Despite market instability and high unemployment, investor confidence and optimism are renewed.

Price has broken above the $4000 round number, serving as a reliable support level for potential investors.

The recent rally in the market is a beacon of hope amidst the stormy seas of uncertainty. Investors seem to have a renewed sense of confidence and optimism, reaffirming their faith in the power of investments.

Although it is uncertain how long this surge will last, the fact that markets are able to make progress in trying times is truly inspiring.

Cross 4200 to enter bull territory 

With the daily 200 simple moving average in its rearview mirror, price is moving on ahead. The $4000 round number has been causing a bit of a stir for price, forcing it into consolidation, but there has been a positive break above $4000.

As price hovers above this significant round number, it's serving as a reliable support level. Any potential dips in the price will be cushioned by this level, providing a springboard for price to bounce back up.

So, potential investors can breathe easy knowing that this level may offer a helping hand to the price's upward trajectory.

Time for a bull run!

Since April is the month that S&P outperformed in the last 15 out of 16 sessions (See post: 3/31 Is it true that stocks soar in April?) with Nasdaq 100 taking the bulls by the horn this week, can we witness SPY breaking 4200 right into the green zone this month as well?

Trade #1

Trade #2

Done for the day. Enjoy your weekend!

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