After a rather longer period without correction, the SP500 confirmed his strong upward Trend with a correction back to the MA21 as resistance. Also, all other important indexes completed a correction.
This provides a good chance for a reentry into a long index setup. As visible in the below chart the low of the correction is at a level of 2145 points.
As I prefer to trade the index via leveraged ETFs, see below the chart of the 3x SP500 ETF called SPXL with the low of the correction at 93,8 points.
The correction of the indexes was confirmed by a strong down-movement of the volatility ETF – VIX and also a bouncing of the NYAD Index up to new highs.