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Todd Harrison: The S&P 500 May Aim for This Target Next
From the Buzz & Banter: Despite the market uptick, the Dow and the BKX have not confirmed new highs.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO.

Cats and dogs are sharing a good laugh together these days and perhaps for good reason. The massive breakout we were all over last week [Buzz & Banter subscription required] triggered with vigor yesterday, and hands over ears, it "works" (through a pure technical lens) toward S&P (INDEXSP:.INX) 1960ish.

While the momentum crowd piles in, with some trying to recover from their fumble-rooski, I'll highlight three charts that throw caution to the upside wind. The first chart is the Russell (INDEXRUSSELL:RUT), which was up a stunning 3% yesterday, as it tickles the top end of the trend line. The second chart is the KBW Bank Index (INDEXSP:BKX), and the third chart is the Dow Jones Transportation Average (INDEXDJX:DJT), neither of which have confirmed the new highs.

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddRUT_1394025721.gif

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddbkx_1394025757.gif

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddtran_1394025764.gif

Yes, there's something for everyone. That's what makes a market.

R.P.

Twitter: @todd_harrison
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No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Todd Harrison: The S&P 500 May Aim for This Target Next
From the Buzz & Banter: Despite the market uptick, the Dow and the BKX have not confirmed new highs.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO.

Cats and dogs are sharing a good laugh together these days and perhaps for good reason. The massive breakout we were all over last week [Buzz & Banter subscription required] triggered with vigor yesterday, and hands over ears, it "works" (through a pure technical lens) toward S&P (INDEXSP:.INX) 1960ish.

While the momentum crowd piles in, with some trying to recover from their fumble-rooski, I'll highlight three charts that throw caution to the upside wind. The first chart is the Russell (INDEXRUSSELL:RUT), which was up a stunning 3% yesterday, as it tickles the top end of the trend line. The second chart is the KBW Bank Index (INDEXSP:BKX), and the third chart is the Dow Jones Transportation Average (INDEXDJX:DJT), neither of which have confirmed the new highs.

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddRUT_1394025721.gif

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddbkx_1394025757.gif

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddtran_1394025764.gif

Yes, there's something for everyone. That's what makes a market.

R.P.

Twitter: @todd_harrison
< Previous
  • 1
Next >
No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Todd Harrison
Daily Recap
Todd Harrison: The S&P 500 May Aim for This Target Next
From the Buzz & Banter: Despite the market uptick, the Dow and the BKX have not confirmed new highs.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO.

Cats and dogs are sharing a good laugh together these days and perhaps for good reason. The massive breakout we were all over last week [Buzz & Banter subscription required] triggered with vigor yesterday, and hands over ears, it "works" (through a pure technical lens) toward S&P (INDEXSP:.INX) 1960ish.

While the momentum crowd piles in, with some trying to recover from their fumble-rooski, I'll highlight three charts that throw caution to the upside wind. The first chart is the Russell (INDEXRUSSELL:RUT), which was up a stunning 3% yesterday, as it tickles the top end of the trend line. The second chart is the KBW Bank Index (INDEXSP:BKX), and the third chart is the Dow Jones Transportation Average (INDEXDJX:DJT), neither of which have confirmed the new highs.

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddRUT_1394025721.gif

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddbkx_1394025757.gif

http://image.minyanville.com/assets/buzzbanter/charts/original/030514/toddtran_1394025764.gif

Yes, there's something for everyone. That's what makes a market.

R.P.

Twitter: @todd_harrison
< Previous
  • 1
Next >
No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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