Just as we had expected, the S&P continued on its bullish trend. However, the S&P is almost breaching the upper limit of the bollinger band. As we can see from historical data, the index can only stay outside the Bollinger band within a short span of time before reverting to its mean.
I've also drawn the new resistance and support lines. Currently, the S&P is staying above all SMAs. Once the S&P crashes below the 5-day SMA, it means that the tide has turned temporarily.
http://sg-stock.blogspot.com/2020/10/s-500-technical-analysis-part-5.html
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