Don't Ignore This Chart!

S&P 500 Tags and Walks up the Band

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The S&P 500 surged to the upper Bollinger Band on Friday and walked further up the band this week. Notice how the index "tagged" the upper band in June, July and now August. Pullbacks also held above the lower band. This is the sign of a strong uptrend. The first tag of the lower band would show a significant increase in selling pressure.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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