Chart Courtesy of StockCharts.com
- The 10 day ema was lost Friday but recovered by end of day to keep the short term uptrend in place.
- All moving average crossover signals are bullish with all short term moving averages over all long term moving averages.
- The short term trading range is $275.38 support with $278.23 resistance.
- Previous resistance at $278 held last week.
- The long term resistance remains at all time highs at $284.
- The ascending 200 day SMA is bullish and has held as long term support.
- The RSI is at 63.76 with room to run higher but 70 RSI is holding as resistance as price forms a price base.
- The MACD remains under a bullish crossover.
- The average true range continues to decline as price consolidates.
- VIX stayed in a low range last week closing at 11.98.
- The China tariff news failed to keep the market down, when the market fails to fall on bad news it is bullish.
- A price close under the 10 day ema or 50 day ema changes the bullish bias here short term.
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