Simple is best. That’s why we like to use simple moving averages (SMAs) to see if the long and short term trends are up or down. Why? SMA’s remove all the daily noise and are entirely objective.
Below is Figure 5 of our weekly digest, available to premium members only, and on the left we see our long-term simple moving averages chart (LT-SMA) and on the right the short term (ST-SMA). The former is 100% bullish: all LT SMAs are up, price is above all of them, all SMAs are stacked bullishly with the fastest on top and the slowest below. It will take a lot to change this chart (e.g. comparison below)
The short term chart is now 99% bullish as well.
Hence, the long term and short term trends remain up. We don’t even need to know price to see that. Hence, long term investors should remain long, and shorter term traders as well.
These charts support our POV that the current bull is not done in a long shot and we expect SPX2300, a small correction, SPX2400+, a larger correction and then SPX2500 before an even larger correction.