Bullish: SP500 Levels, Refreshed

Takeaway: This market A) remains in a Bullish Formation and B) continues to signal higher-lows and higher-highs.

POSITIONS: 12 LONGS, 6 SHORTS

At every higher-low, literally, this contra-indicator stream I built for myself on Twitter tweets bearish. That’s bullish.

So is a strengthening Dollar, weakening Gold/Bonds, stabilizing global growth, etc…

Across my core risk management durations, here are the lines that matter to me most:

  1. Immediate-term TRADE overbought = 1490
  2. Immediate-term TRADE support = 1447
  3. Intermediate-term TREND support = 1419

In other words, this market A) remains in a Bullish Formation and B) continues to signal higher-lows and higher-highs.

That’s just bullish too.

KM

Keith R. McCullough
Chief Executive Officer

Bullish: SP500 Levels, Refreshed - SPX