S&P 500 more upsides confirmed by spring, SOS rally and breakout — Daily Market Analysis

S&P 500 jumped above 3000 psychological level as investors focused the economies reopening despite the escalating tension between US and China.

S&P 500 broke out from the trading range formed since 19 May on Monday on thin volume as it was a public holiday in US — Memorial Day after a spring action on last Friday. The trading range from 19 May was an absorption area prior to breakout to the upside. The sequence from spring, sign of strength (SOS) rally to breakout the resistance…