S&P 500 trade finally breaks out to a new all-time high

My S&P 500 trade (ETF Proxy – AMEX:SPY) finally broke out to a new all-time high and in doing so triggered my stop loss orders.  This breakout has occurred due to political events and is taking place on low power, so it will likely be short lived.  None the less, I ALWAYS stick to my discipline and take stops when my zones are violated.  There is always another  and usually better entry on another cycles sometime in the future.

 

 

 

FB is also challenging the red zone, BUT it seems to be turning over just in time.  I would expect to see this accelerate if there is any weakness in the overall markets next week. The relative weakness it hos shown while the markets rally is heartening.

 

The stock of Abbot Labs (NYSE:ABT) is resisting the power in the broad market indexes.  All my power readings are still clearly showing that this is a false rally that pushes up without much true power backing it, so I am still as I said last week…”happy to “fade” the bulls and anticipate the reversal  that the 3D Apex Trading Methodology has forecast”.

 

 

 

 

 

 

 

Bo Yoder

3D Apex Trading

Catch Bo´s talk as part of the Round-the-Clock-Trader event on 26th June at 4pm.