WEEKLY MARKET DIGEST: THE GOOD AND BAD OF S&P 500 BREAKOUT $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
THE GOOD AND BAD OF S&P 500 BREAKOUT
February 28, 2014
Yesterday S&P 500 finally broke out of the heavy resistance at 1850. The good is that it broke out, took out the stops, and did not fall back under 1850.
The bad is that after the breakout, the behavior is atypical of S&P 500 compared to major historical breakouts. History tells us that in major breakouts, S&P 500 rockets up after the breakout. This was not the case yesterday and is not today in the pre-market.… Please click here or the title below to read more.