ryanabbott

ryanabbott

The break of the 77.06 Aspen trading level indicates upward price movement assuming the level is held. Preliminary target is 81.57.

ryanabbott

False break-down of the 75.51 level increases the likelihood of a move to the top of the channel. Price target of 75.79.

ryanabbott

With price breaking through two of the Aspen trading levels (470.19 and 470.46) and looking to retest on the upper side, there is a good risk/reward trade with a stop at around 469.6 (giving room for price to make a small false breakdown).

ryanabbott

The unprecedented rise in stocks despite worrying earnings from the broad market could have a few explanations. Likely the reason for the "bubble" in the price of the S&P 500 is the intervention of the Fed. By looking at an SPX/GC1! chart, we can see the market with a lack of devaluation of the dollar. The market is in a converging triangle that will determine its...