VOO closes higher for the 2nd day in a row


Vanguard S&P 500 (VOO) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

VOO dominated by bulls lifting the market higher throughout the day
VOO closes higher for the 2nd day in a row
VOO pushes through Monday's high

Overview

Moving higher for the 2nd day in a row, VOO ended the month 1.32% higher at 283.43 after gaining $3.73 (1.33%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 279.72, the market confirmed its breakout through the prior session high after trading up to $5.23 above it intraday.

Daily Candlestick Chart (VOO as at Jun 30, 2020):

Daily technical analysis candlestick chart for Vanguard S&P 500 (VOO) as at Jun 30, 2020

Tuesday's trading range has been $5.72 (2.05%), that's slightly above the last trading month's daily average range of $5.43. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for VOO.

One bullish candlestick pattern matches today's price action, the White Candle.

Vanguard S&P shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Vanguard S&P. Out of 338 times, VOO closed higher 56.51% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 63.91% with an average market move of 0.41%.


Market Conditions for VOO as at Jun 30, 2020

Loading Market Conditions for VOO (Vanguard S&P 500)...
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VOO pushes through Thursday's high

Jul 10, 2020
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