The Bulls Might Be Back in the Driver’s Seat

Prices tend to bounce off this level. [Jeff Clark's Market Minute]( The Bulls Might Be Back in the Driver’s Seat By Imre Gams, analyst, Market Minute After several weeks, there’s finally a strong buy signal in the S&P 500 index (SPX). The last time we had this kind of signal was in early March. Back then, the SPX rallied over 8% before dropping to a low of 3810.32 and officially putting the index into [bear]( market territory. While it’s too early to say whether we’ve carved out a long-term bottom, the stage is now set for [bulls]( to be back in the driver’s seat. Recommended Link [🔥🔥🔥 MUST WATCH: “Boomer VS Bitcoin” challenge! 👇]( [image]( Hi, my name is Jeff Clark. When it comes to cryptos – I’m a “boomer”. Crypto wallets, airdrops, stacking… I don’t know the first thing about any of this stuff. Heck, I never even bought a single coin! But I bet you $100… That I can show you how to make 3-times… 5-times… even 10-times MORE money from Bitcoin… Without touching any of that complicated technology… Best of all, this strategy can make money even when Bitcoin goes down! [Click here to watch how I do it!]( -- The buy signal I’m seeing now should guide this market higher at least over the next couple of months. Let’s look at the SPX price chart to see what I mean… [chart] [(Click here to expand image)]( On the chart, we have the [Bollinger Bands]( (blue lines) which are one of my favorite tools to identify overextended market conditions. The upper and lower bands contain most of a market’s price action… and prices tend to bounce off those outer bands. I highlighted the last time the Bollinger Bands generated a buy signal in March. This buy signal was triggered when prices pierced the lower band and then closed strongly back above it. And this is the same type of signal we’re seeing now. Prices pierced the lower band at the beginning of May and have recently closed back above it. Take another look… [chart] [(Click here to expand image)]( At the March buy signal, notice how prices went on to test the middle Bollinger Band after bouncing off the lower one. This middle band proved to be [resistance]( for the market and prices established fresh lows just below 4,000. This typically happens when a market is trending. You can see how in the run-up to the market’s top in September 2021, prices bounced lower off the upper band but found support on the middle band. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. If the market breaks through the middle band on this buy signal, it would be an initial sign that the market is putting in a long-term bottom. The next step for the market to confirm the bottom would be for it to consistently tag the upper band while finding support on the middle band. And this is what intermediate-term traders should wait for before playing the long side of the market once again. [The 27-Piece Survival Guide for America’s Next Banking Crisis]( On the other hand, short-term traders should look for opportunities to ride the market back to the middle Bollinger Band. Which, as of writing, is just over a 4% move from current prices. Happy trading, Imre Gams Analyst, Market Minute Reader Mailbag Are you an intermediate-term or short-term trader? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [NEW “BLOODY” Buy Warning…]( This is a “BLOODY Buy Warning…” Despite the recent crypto meltdown… We received a major announcement that confirms… The most important event in crypto history will happen as soon as August 1st… We’ve identified seven billionaires… Members of Congress… Along with JPMorgan and Goldman Sachs… Who are now [positioned to profit]( BEFORE this crypto event happens. Are you? [Watch the Urgent Briefing Now. (Plus find out #1 step you MUST take before August 1st)]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [How to Earn Free Bitcoin]( [The Ultimate Guide to Taking Back Your Privacy]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. 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