How High?

How far can the major indices go?

 

What do your charts say? Everyone on ET is a chartist right?

 

this high, and no higher

 

As the S&P continues to push to new highs and search for the next ‘top’, it is suggested to avoid entering into fresh bullish opportunities until the ‘top’ has been identified. By waiting for the S&P to rollover/pivot, the investor learns to exercise patience and discipline. Both qualities are expected of successful investors.

 

193-195 is my next top for spy

 

I think we are close to starting our summer swoon before climbing to new highs again this fall.

Sometime between next spring and the following we get another blood bath ala 07-08

 

1947.25 based on the holy grail trading system, then a 6.5413% retracement

 

I see the markets staying overbought for a while. All US companies seem to be issuing cautions and lower guidance but the markets aren’t listening. They’ll go up but be prepared for a correction back. Most P/E ratios are pretty high according to historical guidelines.

 

That doesn't sound like chart analysis.

The only thing you should be listening to is price, not companies issuing caution.