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9:00am (EST)
The bulls were able to rebound from Monday’s slight losses to push the market higher on Tuesday and for the week after starting in negative territory.
The Dow added 33 points, or 0.3%, to finish at 12,878. The blue-chips reached a new 52-week high of 12,903 and continue to push our near-term target of 13,000. The low was at 12,782 and support is moving up.
The S&P 500 gained 3 points, or 0.2%, to end at 1,347. The index touched a high of 1,349 and came within spitting distance of hitting our 1,350 target which would clear the way for a run to 1,375-1,400. The low was 1,335 and well above support at 1,325.
The Nasdaq advanced 2 points, or 0.1%, to settle at 2,904. Tech kissed 2,910 and an 11-year high after cracking the 52-week high last week as the index continues its march towards 3,000.
We have been doing some serious chart work over the past few weeks for the market and like we mentioned yesterday, this is one of the best times in a couple of years the charts have been this crystal clear. In fact, the reason most of the talking heads and Wall Street pros are seeing a “topping” market or hoping for a pullback is because they have failed to look at the longer-term charts which is showing just how powerful this rally can be.
The homework we did over the weekend showed the targets to watch for to the upside, as well as, the downside risk that awaits us should the bears ever wake up.
We continue to roll in-and-out of trades as we book triple-digit winners and by taking half profits on other trades and rolling them into new trades. At some point, the market will get a curveball and we may get trapped with a few trades but as we continue to slim down our current trades there is a chance we time any pullback, perfectly. When that time comes we will use put options but until then we are staying with the trend that started last September and the one we told you would be powerful.
We are now 22-1 to start 2012 and if you started with a $10,000 trading account, you would have gains approaching $18,000. Your account would now be worth $28,000 as we would have nearly tripled your money. In other words, we have made our subscribers 178% for the year so far and we have no intentions of slowing down. The Weekly Wrap could go 12-0 by next Friday for 2012. This would get our overall track record to 32-1 and REMEMBER, we don’t count winning trades 2 or 3 times like other option websites do when they tell you to close half and third positions.
Folks, these are real results and if you are too busy to follow the market, remember, we have auto-trading partners that do the work for you. This service is included with your membership at no cost. They also provide proof our trading results are real and they enter you order within seconds of getting our Trade Alerts or Daily updates.
If you would like more information, please feel free to contact us, or click here to get the scoop.
Futures are showing a higher open this morning and look like this: Dow (+18), S&P (+2), Nasdaq (+5).
Subscribers, stay on your toes for possible Profit Alerts and New Trades this morning for either the Daily or Weekly Wrap. The Members Area has all of the details and some new ideas on our Watch List could be our next triple-digit winners!
