Bulls got this market ripping higher again after last week’s non-responsive price action that was deemed dead on arrival. New all-time highs have been established and S&P 500 (SPX) is only a cool 7 points away from 2200.
Lots can happen when SPX hit 2200. There is no doubt plenty of people that have dubbed the price level a sell point for their current long positions, but is there enough sellers to drive this market lower?
At some point we will challenge this milestone price level and regardless of whether the market rips through it or sells off, I don’t expect the 2200 price level to be a “gimme” for the bulls.
In the meantime, harness your trading appetites with this week’s newest list of long setups that I will be watching. I’ve already added one new long to the portfolio this morning and there is some nice strength in the banks right now that is worth playing as well.
So comb through these names. To come up with this list of 79 stocks, I comb through over 1,000 charts. So that means only 7.9% of the charts are worth watching.
Here’s the list of trade setups:
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