The Company That Runs NYSE Is About To Explode

When most people think of the leading stock markets, the New York Stock Exchange or NASDAQ usually come to mind.

While this is true, there is a much more powerful and sophisticated company behind the scenes running the financial markets here in the U.S. and globally.

This company controls 12 markets across 9 asset classes, and its stock has an explosively bullish trade setup right now.

In fact, Intercontinental Exchange (ICE) owns the New York Stock Exchange and 11 other financial exchanges across multiple industries.

It could be one of the most powerful and influential financial markets company in the world.

It’s also building a much-anticipated cryptocurrency exchange currently called “Bakkt” aimed at institutional investors.

In a conversation about the cryptocurrency markets, ICE’s Chief Executive Officer, Jeffery Sprecher, recently said, “ICE has been scooping up talent and building out Bakkt, including through acquisitions.”

Bakkt doesn’t have a launch date yet, but ICE is very profitable without it.

Note in the ICE chart below, it has not pulled back in May as the general market has.

One reason for ICE’s strength since the beginning of May could be that Bitcoin has risen over 60% during this time. This is not the only reason to buy ICE, but if sentiment around Bitcoin continues to be bullish, it could add fuel to any bullish breakout in ICE.

The trade setup is to buy a closing breakout over $82 with a stop under $80. This means it should have a daily close over $82 before the trade is entered.

The general market is still in a very precarious position, so the best scenario would be to catch the breakout when the market is also moving higher.

Don’t pay more than $83. If the breakout is too quick, wait for a pullback to between $82-$83.

Trade smart,

Rick Nartarian, Chief Investment Officer
The American Investor Daily