Levels to Watch (8/12/2016)

With the Dow making new highs on Thursday, 8/12, it looks like the market bypassed the opportunity to have a significant pullback. So, here are some levels to watch for on the upside:

Dow: 19700

S&P 500: 2292

NDX: 4865

NASDAQ Composite: 5331

At these levels, the rally from the Brexit low would equal the rally from the February low to the April top, on a point basis. The targets on the NASDAQ indices are only 1-2% above current levels, so I would like to see those targets cleared before making any big upside projections.

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