The S&P 500 index may rally even higher than this week’s record levels if crosses a key milestone, BTIG chief technical strategist Katie Stockton says.
The stock benchmark needs to end trading higher than 2,135 on two consecutive Fridays to set the stage for a 12 percent increase to 2,400, she told CNBC
. The index rose about 0.5 percent to an intraday high of 2,143.16 on Monday.
"For me, it's very important not to see just see a little inch above that, but a confirmation of a breakout," Stockton told the business network. "That's saved me ... to avoid these false breakouts."
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