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US Stocks Tap All-Time Highs Measure Move Targets for S&P 500

Posted on May 19, 2015 05:39

05/15/2015 - 23:45

Futures on the S&P 500 index touched all-time highs today of 2120.50. The feeling seems to be that high interest rates in the near future are not all that bad for markets. Additionally, the historical correlation between US stocks and the Dollar has been positive, meaning that a stronger US Dollar means a stronger US stock market in the long term.

When the price of an instrument is reaching all-time highs, it becomes a unique situation when taking advantage of such an uptrend. This is because without any previous historical prices to extrapolate technical levels from, you are not always sure how far and to what price level the next up-move can be.

However, there is a way we can target new all-time highs using past historical data using measured moves. Measured moves can be calculated using a few methods, such as Fibonacci extensions, and measuring distances of previous swing lows and swing highs to overlay a template for the next possible swing high.

Daily chart of S&P 500 showing measured move
Daily chart of S&P 500 showing measured move of 140 points

For example, if we take the major swing high and low from January until February, which was roughly 140 S&P points, a measured move in the same direction of this trend would be another 140 points.

Similarly, Fibonacci extensions will calculate 38.2% and 61.8% extensions of a similar swings in the market.


For this market, we would target measured moves of up to 2126 and 2134 from the following support levels;

Support Levels Targets
2110 2126
2115 2134


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Monday, 25 May, 2015 / 3:53

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