Its acceleration from the low point at the end of December remains unprecedented, allowing it to overcome graphic obstacles one after the other.
This powerful buying current finds an amplifying act with the recent corporate earnings. Microsoft is the most striking example. The company headed by Satya Nadella has just published a third quarter of quality (net income up 19%) and should regain its position as the world's number one in terms of capitalization, exceeding $1,000 billion. The title gains more than 40% over the current financial year and the "mano a mano" with Apple is back in the spotlight. Investors react in the same way on Facebook when deciphering its first quarter. The action of the social network specialist shows a lot of resilience despite its setbacks in 2018 and progresses by 24% over 2019.
Graphically, in daily data, the index's path remains strongly bullish. Nearly 2000 points won in four months and at lightning speed, the courses reached an unknown area beyond 7700 points. The following resistances are psychological because the V-Bottom started at the end of December has largely exceeded the theoretical targets of this type of configuration. The 8000 point limit may therefore be within the sight of operators. It would take a drop below 7700 points to see the first signs of weakening, but we would still be far from a clear consolidation.