S&P 500 Forecast for the Week of September 11, 2017, Technical Analysis

The S&P 500 went back and forth during the week, as it looks supported at the 2450 handle level. Ultimately, I think that the market will eventually go higher but we may need to consolidate in this general vicinity. I believe that the 2400 level underneath should be supportive and that we will eventually go looking for the 2500 level. Once we break above there, it becomes the next leg higher. A short-term pullback should continue to be buying opportunities, and that being the case I think that traders are trying to build up a larger position.

S&P 500 Video 11.9.17