Back in December when I gave my targets for the S&P of 1410-1430 I wasn’t sure how it would develop. I always like to go over past and present patterns of the S&P. I talked yesterday how I see the advance signs of a Inverted Head and Shoulders Pattern that could take us to my target of 1410-1430.
We’ve been trading the momentum names- the leaders and the fastest movers. But it’s always good to have a road map and a plan for the indices too. Then you wait for the market to Confirm that plan and trade it accordingly. Along the way we will continue to watch for rotation to stay ahead of the game.
*DISCLOSURE: Long SOHU, NFLX, REDF, AMZN, POT, MGM, OPIH, GLD, CYD, BKS. Short SLV, SINA, SPY.
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.
