S&P 500 Jumps Above Resistance!

SPX- The benchmark S&P 500 index vaulted above resistance today after the ice broke in D.C… This has happened several times this year and reiterates how strong this market is. If the recent lows hold, this will be another normal and healthy pullback in both size (% decline) and scope (weeks, not months). It will also be a series of higher lows and higher highs (if we take out last month’s high). These healthy pullbacks offer favorable entry points in strong uptrends.

 

Like This Post?
Join Our Free Newsletter & Get Powerful Ideas
Delivered To Your Inbox

Similar Posts

  • Professional Watchlist: 5 New Setups For Your Review

    Get Exact Buy & Sell Signals Directly To Your Inbox Single Stock Ideas… Starting at Only $19/month Advanced Report…. Starting at Only $97/Month There were 16 New Setups In Last Week’s Report What You Get: 1. Sarhan’s Conviction Leaders List 2. Weekly Leading Stocks Report 3. With Intra-Week Updates 4. Model Portfolio With Exact Entry And…

  • The Traders Expo New York- Adam Sarhan's Next Speaking Engagement

    Dear Trader,
    Trading in volatile markets requires a disciplined approach and there are techniques you can learn to use now that minimize your risk and increase your profits. The secret lies in knowing how consistent traders find trades and manage them well from start to finish. Anyone can learn these strategies—all you need is a commitment to learn what works and the confidence to implement them. The New York Traders Expo is an event packed with non-stop education where you will learn specific technical strategies, how to develop a methodical risk management plan, get tips from world-class experts, and much more!
    Insiders’ analysis of volume, volatility, price, and profit is imperative to keep up with global markets. Every speaker at The Expo is carefully selected because of his or her proven ability to teach trading techniques that can lead to a lifetime of success. Register FREE for The Traders Expo New York, February 20-23, 2011 at the Marriott Marquis Hotel and prepare for four days that will get you on track for a profitable future.
    Join traders from around the world who have said The Expo has made a tremendous difference in their trading. If you make the commitment to attend, you will see how four days in New York could make all the difference in 2011 and beyond. If you gain just one or two new ideas to approach the markets, then the entire trip will have been worth your time!! Register FREE online or by calling 800/970-4355 and mention priority code 021219. We hope that you will join us in New York. For more information visitwww.newyorktradersexpo.com. See you at the Expo!
    Adam Sarhan
    Founder
    The Sarhan Analysis

  • March 2010: Market Review

    The fact that there have only been a few distribution days (and not very damaging ones, technically) since the follow-though-day (FTD) bodes well for the current rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to proactively be buying high quality breakouts meeting the investment system guidelines. Trade accordingly. Never argue with the tape, and always keep your losses small