S&P Breakout?
Posted: June 9, 2023, 9:07 a.m.
Written by Ryan Gorman
We have seen incredible strength from the S&P since the October lows, rallying near 20% from those levels and is now officially in a bull market, though we have been calling this since late August. There is strong overhead resistance identified as 4303-4309, and a break and close above there would add more strength and can really send prices higher. Heading into the weekend, the bulls maintain control of this market above 4290, so keep an eye on that level on a closing basis for the week. Bill Baruch, President of Blue Line Futures, will be on the CNBC Halftime Show today at 11:00 A.M. Central Time to discuss S&P market action, Tesla, and many other market drivers to wrap up the week.
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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500
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