Daily Traders Edge

3 reasons why you shouldn’t buy into the S&P 500’s breakout effort – MarketWatch

July 11
14:06 2016

Is this it? Today the S&P 500 could at last nab its record close — which has been almost 14 months in the making.

S&P futures are chomping at the bit this morning, after the gauge SPX, +0.26%closed out last week by galloping to its second-highest finish ever.

Many traders are cheering like they’re Serena or Portugal fans.

“The bulls are seemingly in charge of everything right now,” writes IG’s Chris Weston.

It’s time to take a bullish stance on stocks, argues Jonathan Krinsky at MKM Partners, citing the S&P scoring its first 52-week high in over a year. The S&P 500 Total Return Index SPXT, +0.32% already stands at an all-time peak, notes Josh Brown at The Reformed Broker.

Continue Reading At MarketWatch

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