stantrader
Short

SPX - Point of Confluence

TVC:SPX   S&P 500
We have arrived at an interesting intersection. Yesterday's (11/22) high was 2204.8 and today's high was 2204.07, which is what we closed at. Today's candlestick looks strong. However we are entering an interest crossroads where we are hitting the ceiling of a 1.5 year trend line, running into an extremely high PE ratio, an impending rate hike, higher interest rates, and questionable future growth. Maybe its time for stocks to take a breather.
aime
14 days ago
At the very least...This looks like euphoria
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tradeBob1
13 days ago
Might be longer. Many possible trend lines and time horizons currently. Next "breather" could be next month, or it could be next June (June 2017). Patience and a long-term view usually pays off. Patience. Let the market come to you.
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