How High Are Stock Prices Going ?

S&P 500 Futures---The S&P 500 in the June contract is sharply higher this Tuesday afternoon in Chicago up another 24 points at 2937 looking to break the all time high of 2961 which was hit on September 21st in my opinion.

If you have been following any of my previous blogs you understand that I have been bullish the equity market for quite some time and if you are long a futures contract continue to place to stop loss under the 2 week low standing at 2885 as the chart structure is outstanding due to the low volatility.

Earning season is upon us as I still believe the U.S economy is doing extremely well as I think corporate earnings will surprise to the upside so continue to play this to the upside as I see absolutely no reason to be short the stock market at this time. The Nasdaq 100 has hit another all time high today up another 100 points as crude oil has also rallied to a 5 month high which tells you strong demand continues due to economic growth.

The S&P 500 is trading for above its 20 and 100 moving average as the trend clearly is to the upside as the Trump tax cuts have certainly helped large corporations as I still see this bullish trend lasting for quite some time.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

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