It's Make or Break for Silver’s Bullish Channel
Matt Simpson May 31, 2021 3:08 AM
Whilst silver’s bullish channel remains intact, bulls have so far failed to hold onto any gains above $28, which puts a pivotal level into focus for bulls and bears.
We also take a look at the Euro STOXX 50 chart which closed to a record high on Friday. And, like silver, has its own pivotal level for bulls to defend and bears to try and conquer. We also take a broad look at the US dollar index and highlight why trend trading may not be favourable over the foreseeable future.
S&P 500: Market Internals
S&P 500: 4204.11 (0.08%), 28 May 2021
- Real Estate (0.64%) was the strongest sector and Communication Services (-0.315%) was the weakest
- 7 out of the 11 S&P 500 sectors closed higher
- 4 out of the 11 sectors outperformed the S&P 500
- 288 (57.03%) stocks advanced and 211 (41.78%) declined
- 91.68% of stocks closed above their 200-day average
- 76.24% of stocks closed above their 50-day average
- 62.57% of stocks closed above their 20-day average
- + 5.43% - Salesforce.Com Inc (CRM.N)
- + 5.18% - Ulta Beauty Inc (ULTA.OQ)
- + 4.88% - NVIDIA Corp (NVDA.OQ)
- -8.94% - HP Inc (HPQ.N)
- -4.84% - Gap Inc (GPS.N)
- -2.61% - Dollar Tree Inc (DLTR.OQ)
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