Technical Analysis – US 500 stock index holds in upward sloping channel after bounces off 39-month trough

The US 500 cash index has been developing within an upward sloping channel, following the rebound on the 39-month trough, achieved on March 23. The price had a successful jump above the simple moving averages (SMAs) in the 4-hour chart, while the technical indicators are moving sideways, with the MACD crossing just below its trigger […]