U.S. Stocks Ignoring Logic

By Peter Brandt of Factor Trading

Monday, August 22, 2016 4:48 PM EST

U.S. stocks remain in strong underlying bull trends. The dominant pattern in the Nasdaq is a completed 18-month H&S failure pattern with a target of 5413.

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U.S. Stocks Ignoring Logic - Factor Trading - Peter Brandt NASDAQ

The S&P weekly chart displays a completed 2-year rectangle with a possible target of 2411.

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U.S. Stocks Ignoring Logic - Factor Trading - Peter Brandt S&P

I realize that these U.S. Stocks targets seem impossible for some very smart global macro traders in the Factor community. I highly respect a number of you who are extremely negative on the U.S. stock market based on your research. You may be right – I can only communicate what the charts are telling me right now. Factor is long Nasdaq futures.

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U.S. Stocks Ignoring Logic - Factor Trading - Peter Brandt - DJIA