Bulls Are Back? Market Pushes to New All-Time Highs
Last week, we anticipated a pullback to the 20-period moving average support—and that’s exactly what happened. On Thursday, the market dipped to test that level before bouncing back sharply.
One encouraging sign during the pullback was that the Relative Strength Index (RSI) remained above its moving average. This technical detail points to continued underlying bullish momentum.
Following the bounce, the market rallied decisively, breaking out to new all-time highs. For traders, this move reinforces the strength of the current uptrend and signals that buyers remain firmly in control.
What’s Next for the Market?
While the technical picture remains bullish, the key question now is whether this breakout can sustain itself. Traders will be watching for:
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Follow-through buying above the new highs
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Volume confirmation to validate the breakout
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Potential resistance levels that could spark another pullback
If momentum continues, the next leg higher could offer strong opportunities for short-term and swing traders alike. However, if the rally stalls, we may see another round of consolidation before the next breakout attempt.
📈 Bottom line: The bulls are back in charge, but as always, risk management and careful trade planning remain essential.