The bears once again have felt the dominance of the uptrend as market recovered from 1035 area to a new year high 1102 area.

While this rally don’t have the strong momentum of the last one , it appears that uptrend is still intact.

In the image below, S&P500 weekly cash index. The analysis is very simple. The price should not be below the 65 EMA which represent our benchmark. As long as the price above the 65 EMA , the trend is up.
As you can see over the last years , the outstanding efficacy of this simple indicator.