πππThe$S&P 500(.SPX)$
closed up 1.42% today to 4027. In the past 5 days it has been trending upwards at 1.73%.
I believe that SPX will close flat on Friday 31 March at 4040. It remains in a fairly positive position. The golden cross, a bullish breakout pattern when the 50 day Moving Average crosses above the 200 day Moving Average, is still intact.
The markets are expecting the Feds to cut interest rates even though the Feds said that inflation is still high. Investors are also more bullish that the Feds will support the banks to prevent further bank runs. Confidence and trust are important to maintain the integrity of the US financial system.
However with a long term horizon, I believe that SPX will continue its upward trend. So I will continue to dollar cost average into $SPDR Portfolio S&P 500 ETF(SPLG)$ .
[EVENTS] How will SPX close on Friday 31 March?
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