S&P500: Long-term trend intact

The long-term upward trend of the S&P500 remains intact although it may stall in the short to medium term, says Andy Dodd at Louis Capital Markets. Although the May break above 2401 has signaled further continuation patterns, there is evidence from shortening candlesticks that momentum is stalling despite the news highs. In the meantime, RSI divergence suggest limited short-term upside.

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