I have identified a cup and handle pattern (see here for more information - www.investopedia.com...s/c/cupandhandle.asp) on the daily chart of the S&P 500. This has been confirmed as we have broken out of the previous 2800.000 resistance region which is now a key support region. We are now just hovering above the 2800.000 support region (circled above).
This could be a great buy opportunity because there are 174 S&P 500 companies scheduled to report earnings this week. So far, this earnings season has been a rather strong one. Of the S&P 500 companies that reported before this week, 87% beat earnings expectations and 77% beat revenue expectations, Butters wrote. Both of those statistics are above the five-year average.
If the earning reports can continue to do well, we could reach all-time highs in the near future.
More can be read here - www.marketwatch.com/...razy-week-2018-07-23
This could be a great buy opportunity because there are 174 S&P 500 companies scheduled to report earnings this week. So far, this earnings season has been a rather strong one. Of the S&P 500 companies that reported before this week, 87% beat earnings expectations and 77% beat revenue expectations, Butters wrote. Both of those statistics are above the five-year average.
If the earning reports can continue to do well, we could reach all-time highs in the near future.
More can be read here - www.marketwatch.com/...razy-week-2018-07-23