Two-Handed Tuxedo: S&P 500 Analysis
Tim Knight | Jul 19, 2018 09:00AM ET
We awake this morning to an interesting bifurcation in the market.
On the one hand, we have a market poised to explode to new lifetime highs on a virtually daily basis. It has many things going for it. (1) ALL news, no matter it is, from nuclear war to new toenail-clipping technology, is interpreted as good news for the market (2) Many important indexes have experienced lifetime highs or, if not that, breakouts above resistance trendlines (3) the S&P 500, represented by the ES chart below, has finally conquered its February 1 price gap, and there is a powerful bullish pattern beneath this horizontal which has the market poised for what seems to be a powerful vault higher.
On the other hand, there’s Dennis.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.