I wrote an article earlier this year that predicted the S&P 500 Index could be headed to 1,550 in the upcoming six to nine months. After a blistering start to the year, the S&P 500 has charged steadily higher and is now testing the critical 1,370 level, which we’ll want to keep a close eye on in the days ahead.
The Heating Oil futures contract has traded within a well-defined trading range over the last year of trading, which leads to an interesting dilemma now that it has reached major resistance.
I’ll be speaking in Denver tomorrow (Saturday, Feb 4) for the Denver Trading Group. The event is scheduled from 9am to 1:00pm (but could go longer). Come out and see me and other traders in your area!
