Friday, March 24, 2017

Analysis And Trades: S&P 500 Tests 52 Week Highs

The S&P 500 broke through the 52 week highs today of 1,474.51. This will get the media buzzing and help push more retail investors into the market. I predicted this scenario already and my prediction still says further upside for another week or so. The upside is based on light volume, retail investors jumping in the market (always near the tops and proprietary PPT Strategy calculations). Once February approaches, the markets will begin to pull back as debt ceiling fears start to take their toll. Essay Warehouse

Dissertation Research Assistance The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is trading at $147.84, +0.79 (0.54%). This is the S&P 500 tracking ETF and will head to around $150.00. Once there, shorts on the overall market can be initiated.

Other stocks to short will include large caps trading north of their 52 week highs, +10% in the new year. These are all ripe for a pull back. Some examples would be, Inc. (NASDAQ:AMZN), 3M Co (NYSE:MMM) and Goldman Sachs Group, Inc. (NYSE:GS). This will be a market pull back for multiple weeks thus every stock should see some modest declines.

The key is patience. Wait for the markets to inch higher into the end of January then pounce.

Gareth Soloway

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Read more on Fairwood HLDGS, S&P 500 (SPX) at Wikinvest

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