Almost 2090

Yesterdays final push up by the S&P 500 towards the 2090.00 upside blowout target that we mentioned this past Monday, what I would call a false breakout that puts most sellers on the sidelines with fear in their hearts, was completed with a move to 2087.88.  In our long/short funds we unloaded the long side on that move yesterday.  The rally from the 1810 January low to this April high was 277 points.  This sets up a downside swing target on the S&P for us of (277 X 2) or 554 points lower at 1534 by October.

Leave a Reply

Your email address will not be published. Required fields are marked *

3 × 3 =