“Breakout” – Let’s Try This Again

Posted by Lance Roberts - Real Investment ReportReport

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Here we go again. Another Friday. Another attempted breakout above the 2100 level on the S&P 500. Over the last couple of months this has become a regular occurrence.


While the market is once again extremely overbought on a weekly basis, the employment report on Friday which showed a historically abnormal surge in June jobs growth, despite a weaker than expected wage increase and further negative revisions to May’s report, sent investors scrambling into the market. That push on Friday was enough to trigger a short-term buy signal and set the market up for a push to all-time highs.

However, don’t get too excited just yet. There are several things that need to happen before you going jumping head first into the pool.

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be sure to read Mike’s Interview Solid Quality Yield Recommendations