IS IT BUY, SELL OR HOLD TIME AS THE MARKET HITS NEW HIGHS? $SPY
As the market hits a new high, should you buy, sell or hold? To answer this question, let us together analyze some of the important factors.
The chart
The annotated chart of S&P 500 ETF SPY, shows a breakout through the resistance to a new high.
Please click here to see the annotated chart of S&P 500.
In a simple world, here would be the key observations on the chart.
- Based on traditional technical analysis, a measured move up will extend the new range by the same amount as the prior range.
- The target of the measured move is 2448 as shown on the chart; this is about a 15% projected up-move.
July 12, 2016