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The S&P 500 Index had a fairly quiet session on Wednesday, as traders continued to consolidate around the 1460 level. This market has had a nice gain over the last couple weeks, and the rest is certainly well needed. With this in mind, we are still bullish of the S&P 500, but think that lowering leverages the way to go at the moment.
By skipping the futures markets, we can essentially keep our place in this index at a low level of volatility. We suggest that the S&P 500 should continue to rise as the Federal Reserve continues its stimulus programs, but we think that a pullback could be imminent. If that's the case, you're much better off in the ETFs then you are in individual names, or the futures market. Because of this, we are looking at the ETF SPY as a proxy for this index in general.