The S&P 500 made yet another intra-day ATH on increasingly bullish weekly momentum. The 2380 - 2405 S/R area may be tested over the next few weeks before the next leg-up, however, a breakdown below 2350 support may negate this view.
So what's the chance the FED will stop pumping this thing up, along with its European affiliates in the current economic environment? Zero if they want to raise interest rates, and more than zero if they want the free market to prevail.
The MACD formed a bullish up-cross during mid-Q4 with an expanding positive histogram. The histogram has reduced since, however has recently expanded negligibly, over the past couple weeks. The Stochastic has remained within the bullish continuation region for over 12-months now, threatening to fall-out twice. Once during 4Q16, and more recently during 2Q17, however, the cavalry arrived both times to save the day. The question is, will they arrive for a third time? http://bit.ly/2rL3Q5a