• HEDGEYE’S MARKET BRIEF
    Our FREE Investing Newsletter
    Get Exclusive Summer Sale Discounts

    By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. All Hedgeye products and services are subject to Hedgeye’s Terms of Service available at www.hedgeye.com/terms_of_service

Below we have outlined where I think the SP500 can either find her next up leg, or break it.

The white dotted line in the chart below is at $84.47. If the buck breaks that line (like it did in December), I think stocks breakout to test the December/January highs. Today, the US$ Index is down another -0.79% at $84.61, and the stock market likes it.

If we fail to break the buck, there is a massive wall of resistance at SP500 885 that I do not believe will be overcome. This is the line that matters.

Keith R. McCullough
CEO & Chief Investment Officer