Rich Ross - Evercore ISI

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Last quote by Rich Ross

The flag flies at half mast, halfway within the pattern. We can project out another 300 points from that 2,400 over time and that brings us to our 2,700 upside target on the S&P.feedback
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May 25 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Rich Ross is associated, including S&P, July, and stock. Most recently, Rich Ross has been quoted saying: “The breakout today gets us to 2,470 in the short- to intermediate-term, and over time we can get to 2,700 on the S&P 500.” in the article This chart shows why the S&P could surge 12 percent from here.
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Rich Ross quotes

You have to stay long technology; it's an overweight, it's a buy, however you want to phrase it.feedback

The trend is higher, and technology remains the bedrock of this bull trend. It's going higher. And then we came out of it like a cannon, up 10 percent over two months.feedback

The charts are with Erin's fundamentals, and I think the technicals suggest that Discovery is actually a long, not a short. For the last two years, the stock's been forming a very nice rounded base of support that you can see on the chart.feedback

And that breakout to a new all-time high from a technical standpoint failed, and the stock traded in a rather narrow range over the next two years.feedback

So if this breakout were to fail and drop back into the pattern below that $130 level, I would not be quite as sanguine on this stock here.feedback

I think we're going to see continued outperformance of the emerging markets.feedback

I think we're going to see continued outperformance of the emerging markets. If you had [emerging markets] up 13 percent, more than twice the S&P, with crude down 10 percent, then you likely also had Mississippi State over UConn and you had South Carolina and Oregon in your Final Four; you just didn't have it. I would stick with the emerging markets on a relative basis; not to say that I'm not buying the U.S., but I like [emerging markets] over the S&P right now.feedback

Regardless what you think about the valuation, this stock is not going to get beat by a spreadsheet. This is a great technical setup, and it's only gotten better here. We now have a very decisive breakout of that trading range; that gets us to $320 in the short term. Let's call it $280 on the high end, $180 on the low end, you tack $100 on top … that gets you to $380 over time. So, [for] Tesla, there's still food on the table here. I still like this stock. In fact, I like it even more on the breakout.feedback

Perhaps Phelps can be encouraged to go underwater in a shark cage.feedback

What at times appeared to be a breakdown from this head-and-shoulders top now appears to be a breakout from a 14-month base of support. You can see this bullish base of support here at the tail end, once again, of this 35 percent decline here. That sets the stage for biotech to continue to move higher. I would be a buyer of the IBB.feedback

History's sort of working against Snap a little bit in terms of the analyst community. First of all, I think people want to sort of cover their assets, if you will, here with markets at all-time highs. There's a notion that perhaps Snap coming at the top – at those all-time [market] highs – could be the proverbial bell that rings, but I don't think that's the case at all, here.feedback

You want to take advantage of this pullback, and you're going to see some reversion. I think the pullback has created a compelling tactical buying opportunity here for a trade that remains broadly intact. When crude breaks out, this is where you're going to get the big bang for your buck there in energy.feedback

Energy will move higher on the offensive.feedback

I think if you put aside everything you think about the company, when you break it down on just a technical basis alone, you're staring at a very bullish stock chart in the short, intermediate and long term.feedback

We have this well-defined trading range, this pullback into the 100-week moving average, and a strong move coming out. So I think we're going to take out the high end of this trading range and move significantly higher for the stock.feedback

I really like this setup here in Apple. It's a stock that has taken a back seat to other high fliers in the post-Trump reflationary rally, if you will, but I like it on both a short-term and a longer-term basis.feedback

We test and hold key support just as we have done in here this year, and then we have a very strong rally coming out of that. So I think history repeats itself.feedback

The technicals have been eroding for some time. We have interest rates rising, which is a macro headwind for the group, and you have a very aggressive factor rotation from growth into value, all of which are playing against biotech here.feedback

That could set the stage for a multiyear run of underperformance, which likely has already begun.feedback

This is a group that is just taking off, and I would not be afraid to be a buyer of the airlines.feedback

After three years of being unloved and doing nothing, we're now emerging in decisive fashion with a bullish brio here. That tells me the small caps will actually continue to go higher through next year.feedback

That tells me regardless of what you think about the world, Caterpillar is a buy on that breakout.feedback

When you look at this chart, it will be difficult not to be constructive or bullish, if you will, on the broader markets.feedback

We have some symmetry here, which is troubling for a stock that has rallied 300 percent off its lows and is up 200 percent year to date.feedback

We have a phenomenal run in this stock off those lows, then you have another rollover this summer. You dip once and then after a run back into the 50-week you dip again and there's the stock, sitting on the key support at $60.feedback

I have very low expectations for this stock, which could be a positive catalyst, but that's not how I would play it. This is a stock that looks structurally broken, in a longer-term downtrend in a fairly buoyant market, and that's a bad combination.feedback

If we are able to surmount that $130 high-end resistance of that well-defined trading range, you could project another $50 of upside for that stock. I'm not telling you it goes there overnight, I'm just saying above $130, this stock can go meaningfully higher, and we do think in the short- to intermediate-term, you do get a test of that $130 level.feedback

You've essentially erased any of those post-Brexit gains, and you're sitting on that key neckline of support. Our call is that you break lower beneath the neckline.feedback

That false breakdown to an all-time low that we saw back in July is going to provide the springboard for a test of that critical moving average.feedback

The magnetic quality of that 100-week proves true here.feedback

I'd be a seller here of gold and miners.feedback

All of that tells me that we probably go higher.feedback

I think you still buy the stock here, and even on a pullback, you're a buyer on weakness.feedback

With both stock and bond prices at record highs, this is a great way to have your cake and REIT it, too, if you will.feedback

That would be bad. So let's wait before we get too excited about this breakout.feedback

Anyone can trade the breakout, but you have to hold the breakout. So what you want to see is a Friday close above that old high of 2,130, 2,135. And in fact, we really want to see consecutive weekly closes above that level.feedback

With the Dow and the S&P at a new all-time high, crude oil has been one of the rare disappointments out there this month.feedback

We have a triple bottom on the weekly chart with a bullish hammer or exhaustive weekly reversal in the short term – that's a compelling setup.feedback

I think that gold works whether we get that Brexit and chaos ensues [in which case] gold goes higher – or if peace prevails on the 'Bremain,' the dollar eases, providing a bid into gold, commodities and high yield. Whether Britain 'Brexits' or 'Bremains,' gold should 'brenefit,'.feedback

In this case with the S&P just 1 percent off an all-time high, it has the potential to provide a catalyst for a breakout from a multiyear trading range.feedback

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