Risk Management: SP500 Levels, Refreshed...

Today, it looks like we are going to lock in another higher-high for the YTD. With higher prices, our risk management models are registering higher immediate term TRADE targets.

  1. Immediate term TRADE resistance = 1080
  2. Immediate term TRADE support = 1058

Higher-lows of support with multiple support lines below them, is what it is – bullish until it isn’t. If something gets this market to crack and close below 1058, that puts the dotted-green line at 1037 in play. Otherwise, the bullish TREND in the SP500 shall remain your friend.

KM

Keith R. McCullough
Chief Executive Officer

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