S&P 500 Forecast January 11, 2017, Technical Analysis

S & P 500 daily chart, January 11, 2016
S & P 500 daily chart, January 11, 2016

The S&P 500 rallied on Tuesday, showing signs of life yet again. As I had suggested yesterday, I thought there was support just below there and it looks as if we’re going to continue to go higher. I’m a buyer, and I believe that we will reach towards 2300, as the NASDAQ 100 has already broken out to a fresh, new high. Remember, these 3 indices tend to move in the same direction longer-term, so that might be reason enough for buyers to get involved. I believe that the 2250 handle below is essentially the “floor.”

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