-
Published on Oct 10, 2016
The
S&P 500 broke higher during the course of the session on Monday,
breaking above the top of the symmetrical triangle that we had been
trading in. However, we did pullback a little bit so I think that we
will continue to go higher, but it will be more or less a grind to the
upside. With this being the case, I think we eventually try to reach
towards the 2200 level above, and then even higher than that. I
recognize that there is going to be a lot of noise between here and the
aforementioned 2200 level, so you probably will have to buying
short-term pullbacks for short-term trades at this point in time. I
recognize that the 2120 level below is essentially the “floor” in this
market, so therefore I have no real interest in selling.
No comments:
Post a Comment