Could the markets rocket up to 2200, 2300 or 2400 as some analysts currently expect? It is quite possible given the ongoing interventions by global Central Banks. The reality, of course, is that while the markets could reward you with 250 points of upside, there is a risk of 600 points of downside just to retest the previous breakout of 2007 highs. Those are odds that Las Vegas would just love to give you.
With global equity and especially FX markets underoing historic moves in the last two days, every trader's playbook has been tossed aside as setups and trendlines everywhere have been broken. So for everyone trading on nothing but momentum - which these days is most, and certainly all algos - here are some observations from BofA's chief technicial Stephen Suttmeier who says that with the S&P failing to breach 2,100 again, and having broken 2025, "all eyes are now on 1950."