S&P 500 Approaching the Major Resistance: Time to Sell?

The stock market (S&P 500) is nearing the level at which it started the major correction in early December of 2018 – right around 2800. Note, since late December of 2018, the stock market has surged, in an apparent V-shape recovery. So, is it time to take some profits, or even go short, or just continue to buy betting on the breakout and the new all-time highs? The Fed’s turning point and the committed patience on the next move supports the bullish outlook. However, the next major directional move in stocks is highly dependable on the US-China trade deal. Also, the Muller report is forthcoming. The Brexit is still pending. Uncertainty anybody?

ESH19_Barchart_Interactive_Chart_02_23_2019

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