What Last Week’s Highs Mean For Trading This Week

Last week had the S&P hitting new record highs and the NASDAQ making a run for its record as well. After a couple months of consolidation we are looking for confirmation on where the market will head next. It is easy to look at this chart and want to believe that we will stay locked in this range as we head into a new week and that we should expect a pullback. But it may not be that simple.

When you step back and look at the bigger picture there are signs that this trend could continue and push farther upward. When we check the RSI and MACD for both indexes it shows there is still room to the upside. New highs can be strong signs that former resistance has become new support and provide a new price target to use for valuing options.

This is one of the elements that we see play out in a legendary system that was used to train a bunch of non-traders with simple and extremely powerful rules. Russell Sands was a part of this group and revealed these rules in his strategy that was offered in a message earlier today. If you are looking for a simple, lucrative process to find trades with massive potential, you can still access his offer here

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