New Target for the SP500, Higher or Lower?

21 Apr

The ES, or the E-mini S&P Futures hit a pivotal level on 4/18 which has sent the market screaming higher. As we continue to drive higher and break prior highs, more and more stops will be hit which in turn sends the market high.

We need sellers at highs to make new highs and buyers and lows to make new lows. This is because the stops that the sellers place at highs (just about the highs) will be fuel for the market to make new highs at which point these traders will reverse their positions and chase the market long.

ES Target 1358

Our target for the S&P500, 1358. It’s straight up, or nothing.

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