Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    

Watch This Key Market Level: The Pros Are

Reply to topic
Money Talk > Investing, Stocks and Bonds

Author Thread
Contributing Member

Cash: $ 7.25

Posts: 26
Joined: 12 Jan 2011
Location: New York City, New York
Watch This Key Market Level: The Pros Are  Reply with quote  

The markets surged higher today for the second day in a row. The S&P 500 hit a new all time high before noon. Many investors are wondering if it is time to buy the markets again, prior to another leg higher. The pros are watching one thing and one thing only. The closing price on the S&P 500.

Does the S&P 500 close at a new all time high or does it close below the former all time high? This is all that matters and exactly what the pro traders on Wall Street are following. If it closes above 1,849.44 (the former all time high from December 31st, 2013), a bullish case can be made for a move higher in the markets. If it closes below that high, caution should still be used as the markets could decline in the near future. This and only this is what institutional traders and pro investors are watching.

Gareth Soloway
Post Wed Jan 15, 2014 6:29 pm
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      

Money Talk © 2003-2018