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