{"id":117421,"date":"2017-12-01T06:53:28","date_gmt":"2017-12-01T11:53:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=117421"},"modified":"2018-06-01T15:48:30","modified_gmt":"2018-06-01T15:48:30","slug":"sp500-stock-market-technical-analysis-positive-data-bullish-for-sp500","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/sp500-stock-market-technical-analysis-positive-data-bullish-for-sp500\/","title":{"rendered":"SP500: Stock Market Technical Analysis – Positive data bullish for SP500"},"content":{"rendered":"
December 1, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Positive data bullish for SP500<\/strong><\/p>\n

Positive data and progress in tax cuts approval support market sentiment. Will SP500 <\/a> continue rising?<\/p>\n

The US economic growth accelerated to 3.3% in the Q3 from 3.1% in second quarter, according to the GDP\u2019s second reading. Recent economic data were strong: the Conference Board\u2019s US consumer confidence index rose to its highest reading since 2000, and the S&P\/Case-Shiller national index of house prices rose at the fastest pace in more than three years. And the Senate Budget Committee approved the Republican tax bill setting it up for a full Senate vote planned later this week. Recent upbeat corporate reports, positive data and progress in tax cuts plan are bullish for US stocks.<\/p>\n

\"SP500\"<\/p>\n

On the daily chart the SP500: D1 <\/b> closed at record high in previous session. It is above the 50-day moving average MA(50), which is rising.<\/p>\n