Major US Indices Forecast, September 12, 2017, Technical Analysis

S&P 500

The S&P 500 gapped higher at the open on Monday, and never look back. We are now approaching the 2500 level, just 15 points away. That level will be resistive, but I think if we can break above there, the market becomes more of a “buy-and-hold” scenario. Buying dips should continue to be the way going forward, and even if we do pull back, the gap that formed at the beginning of the session should offer plenty of support if you are patient enough to wait for the buyers to come back. I have no interest in shorting the S&P 500… Read More

Dow Jones 30

The Dow Jones 30 gapped higher at the open on Monday, and never looked back. In fact, we have sliced through the psychologically important 22,000 level, and it looks likely that we will continue to go even higher. I have no interest in shorting this market, I believe the pullbacks will offer value, as the US stock markets are so obviously bullish. As a general “risk on” rally overall, and we see that throughout the trading world… Read More

NASDAQ 100

The NASDAQ 100 also gapped higher, breaking above the 5975 level. It looks as if we will attempt the 6000 handle again, and a break above there should send in even more money. I have no interest whatsoever in shorting this market and look at pullbacks as buying opportunities… Read More