S&P 500 Price Forecast February 15, 2018, Technical Analysis

The S&P 500 was very noisy during the trading session on Wednesday, as the S&P 500 initially sold off after the stronger than anticipated CPI numbers coming out of America. However, the buyers came in and pick up value and as a record this it looks as if were trying to break above the 2700 level. That’s an area that should continue to be resistive in the short term, but longer-term, I believe that we will break out above there and continue to go much higher.

I believe that we have a target of 3000 by the end of the year, and this is just the latest pull back that should offer value. I anticipate that the lack of volume during the day may make the 2700 level likely to offer enough resistance to keep the market at bay, but ultimately, I feel that the buyers will win the day. The volatility should continue, but I think that algorithmic traders will continue to jump into this market on pullbacks as they continue to offer value. Longer-term, it’s likely that the S&P 500 will continue to be one of the better performers that I follow. If we were to break down below the 2500 level, that would be the end of the uptrend, which is something that would shock the markets.

S&P 500 Video 15.02.18