Still Bullish: SP500 Levels, Refreshed

Takeaway: Bullish is as bullish does.

POSITIONS: 11 LONGS, 6 SHORTS @Hedgeye

Bullish is as bullish does. And I think we have been very clear on the why. Employment #GrowthStabilizing now has to deliver on Friday.

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

  1. Immediate-term TRADE overbought = 1511
  2. Immediate-term TRADE support = 1489
  3. Intermediate-term TREND support = 1434

That’s why I bought and covered on both yesterday and today’s red market opens. Our quantitative risk factoring supported those decisions.

It’s just our process.

KM

Keith R. McCullough
Chief Executive Officer

Still Bullish: SP500 Levels, Refreshed - SPX