SPY 300.00

It's here.   I was saying it all year and last year.  300.   It's here.  With this big round figure comes the same top talk. Is the top in?

Last month I highlighted a possible path for the market.

and here is what the SPY has done:

Is the top in?  Has the market topped?

Has the Market Topped?

With the stock market at record highs the FED later this month will cut interest rates .25% or better.

While those same people who called this recent record rally a bull trap some 30% ago....

More Bull Traps

.....are saying the rate cut will mark the end of this rally... I think it will continue to add fuel for more upside.  How much higher?

There is clear trendline resistance at $305.  The question from there... is will the upside continue?  Or are we truly looking at that dreaded megaphone topping pattern?

Megaphone top, head and shoulder top... during this bull market any and every excuse to sell has ended up being a great reason to buy.  At some point that will change.  We've had a tremendous start to the year.  While the market has hit new record highs on the FED cutting rates, earnings season will take the baton.  Will earnings be strong enough to continue this rally?

We will soon find out.

Earnings this week:


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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