American Express Crushes Its Earnings

American Express (NYSE:AXP) crushed it today with its earnings. It will be interesting to see if the breakout above the $66 level can hold. The charts below of the S&P500 (NYSE:SPX) and the Robo Ratio illustrate that although we are long overdue a trip down into an intermediate cycle low, we don’t seem to be ready just yet… Therefore I believe AMEX will take out $70 a share before this intermediate cycle tops..

oct20-03 oct20-04 oct20-05

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