the S&P 500 is well on its way to 2,250 in the short-term—nearly 7 % higher than current levels

Discussion in 'Trading' started by S2007S, Apr 16, 2015.

  1. S2007S

    S2007S

    Katie say the s$p which we all know is a risk free money printing index is headed up 7% to a guaranteed 2250, its all in the charts according to her technical analysis so just keep buying every chance you get, if you can mortgage the house, take an equity line out and borrow against your credit cards, this is a risk free 7% which would take decades to earn in any savings account, the break out should occur next week after major companies report earnings, that should give the markets at least a 2-3% jump next week to new highs and by may 2250 will be here, so just keep buying, she said there is a triangular wedge pattern showing up on the s$p and that means its going to break out to the upside....just keep buying, this is a no risk free money printing market and will be for the next 10-20 years.


    The S&P 500 is less than 1 percent from its all-time high, and according to one top technician, more records are just around the corner.

    "We've already seen new, all-time highs registered by major indices in the U.S. and globally," said BTIG's chief technical analyst, Katie Stockton. "The S&P 500 has yet to do that, but I think it's a matter of time."

    Stockton pointed out that despite a negative outlook for earnings, the initial reaction has been quite positive. "We're seeing breakouts [on earnings] on an individual stock level," she said. "The Russell 2000 has hit a new all-time high, and I think the S&P 500 is going to break out from what has become a bit of a triangle formation on the chart."

    [​IMG]
    Technicians often look to wedge or triangle formations to find inflection points. The theory goes that as a stock begins to trade in a narrower range, eventually a breakout will occur, and it's usually higher. According to Stockton, the triangle pattern occurring in the S&P 500 is signaling that stocks will rally.

    "There's really nice upside here," said Stockton.

    Another major indicator that Stockton noted is market breadth, or the number of stocks that are participating in the rally.

    [​IMG]
    "The cumulative measure of advancers to decliners has reached a new all-time high ahead of the S&P 500." In other words, the rally is not limited to just a handful of large stocks, but rather a number of individual equities.

    "The uptrend still very much has positive momentum," she said. "With the support of that breadth, or market participation, I think the rally still has legs."

    So how high does she see it going?

    Stockton said that the S&P 500 is well on its way to 2,250 in the short-term—nearly 7 percent higher than current levels.
     
  2. clacy

    clacy

    You must be getting close to your breaking point right? You're a perma-bear, but in fact the stock market generally has an inflationary bias upwards. It's like being a Cubs fan. You either embrace losing, or you'll lose your mind.
     
  3. dbphoenix

    dbphoenix

    2250 is something of a reach. The upper limit of the trend channel it's been in since '11 is 2170, though by May it'll be higher. I suggest that those who are interested in this sort of thing look at the volume of advancers v decliners and not just the numbers thereof. If the volume isn't there, then the market is being propelled by fewer and fewer stocks.
     
    Gringo likes this.
  4. S2007S

    S2007S

    Or if the s$p breaks 2068 on the downside
    That's the other thing to look out for, however with earnings season here and big companies reporting next week there should be no worries.
     
  5. dbphoenix

    dbphoenix

    We'll see. I do wish though that "technicians" wouldn't turn technical analysis into gobbledygook.
     
  6. S2007S

    S2007S

    She spoke again, saying "We think a bullish bias is appropriate with breakouts far outnumbering breakdowns among individual stocks."

    "The S&P futures are lower this morning on the back of weakness overseas," BTIG's Chief Technical Strategist Katie Stockton said in a note. "The pullback follows new all-time highs in small- and mid-cap indices, although the SPX has yet to follow suit. We think a brief pause will allow for a breakout, noting the DeMark indicators support about four days of consolidation. We think a bullish bias is appropriate with breakouts far outnumbering breakdowns among individual stocks."

    She is ULTRA BULLISH...

    http://www.cnbc.com/id/102596496
     
  7. dbphoenix

    dbphoenix

    Those highs in the smalls and mids were almost a month ago. And strength in those coinciding with weakness in the majors is generally considered to be at least one sign of an impending top.
     
  8. S2007S

    S2007S

    Katie spoke positive about the markets again today

    "We expect upside follow-through in the days ahead to allow the SPX to break out from its triangle formation to a new all-time high. So far, earnings season is driving more breakouts on the charts than breakdowns, so we think it is only a matter of time before this is reflected by the major indices," Katie Stockton, chief technical strategist at BTIG, said in a note."


    One of the biggest bulls on wall street
     
  9. Sergio77

    Sergio77

    I'm out because money will be collected soon.