S&P 2399–New high, new target

Posted on Nov 22, 2016 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=488866143

The S&P has broken to new highs.  Contrarians lick their lips and start shorting.  Trend traders add to their positions.  Given the madness of the market and the national mood and the bizarre   political situation it's not something we would say go all in for.  But for us it's sufficient signal to scale in.  Stay hyper alert and be ready to jump -- in or out.  As our method is completely flexible we never mind admitting an unsucessful trade and bailing out.

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