FYI: School has been back in session for less than a month now, but the S&P 500 already had its first test of the semester and came out passing with flying colors. After breaking out to new highs at the end of August, the S&P 500 pulled back in early September and found support right at its prior highs from January. After holding that level, the S&P 500 has now traded higher on eight of the last ten trading days, rallying to higher highs. It doesn’t get much more textbook than that!
Heading into the week,the DJIA was the only major US index that had yet to take out its January high, but that changed this week as the index closed out the week with four straight days of gains. While most other indices ran into resistance on their first attempts to take out their highs from January, the DJIA just buzzed right through it.
Regards,
Ted
https://www.bespokepremium.com/bespoke-report/the-bespoke-report-passing-with-flying-colors/
