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S&P 500 Forecast August 28, 2015, Technical Analysis

Christopher Lewis
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The S&P 500 broke higher during the course of the day on Thursday, clearing the 1950 level. Because of this we are buyers of the S&P 500 and recognize that pullbacks should continue to offer value that we can take advantage of. We do like this market to return back to the 2100 level given enough time. We have no interest in selling, as we think that the market has finally found some stability after the massive selling last week. Ultimately, the GDP numbers coming out better than anticipated in America will probably partially to blame for the strength.

 

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