The S&P 500 stays in an uptrend

The U.S. stock markets have been enjoying a good rally recently, due to the better than expected fundamentals, which have shown that the American economy is in a sustainable recovery. On the weekly chart of the S&P 500 we can clearly see how the index has kept a well-defined uptrend. We can also see something very peculiar; that is that when the weekly candle closes in a Doji formation, the following weeks tend to be bullish. Last week’s candle closed in a Doji formation and this week we have seen the price heading higher. Could this be a signal that next week will also be bullish? Let’s wait and see if we do get a breakout above the 1985.26 level for next week.