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.
- Immediate term TRADE resistance = 1080
- 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.
Keith R. McCullough
Chief Executive Officer