Current level is 1628.55. The current positive trend seems to be attributed to the current belief that fresh stimulus packages are on the horizon. On October 1st, the macd indicator crossed into bullish territory and signalled a buy at the 1531 level.
We would maintain a long position in this market protected with a stop loss at 1575. The 14 day relative strength index is approaching overbought levels and is currently at 68 percent. Although the overall trend is bullish, it should be noted that the current price is 10.75 percent above the 200 day moving average, a level last seen in January 2017.