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“Take Out” time for many indices, in play now!

By kimblechartingsolutions
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Courtesy of Chris Kimble.

The 4-pack below looks at the S&P 500, Russell, Transports and the Bank Index

CLICK ON CHART TO ENLARGE

The trend on each of these is up. Each is testing breakout levels at (1).

The risk on trade in stocks would love to see each of these “TAKE OUT” these overhead channels at (1)!!!

With numerous sentiment indicators hitting levels not seen in years, breaking out/taking out at (1), would attract buyers. What takes place at (1), should set the tone for the first part of 2017.

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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