S&P 500 Price Forecast September 28, 2017, Technical Analysis

The S&P 500 initially tried to rally during the day on Wednesday but pulled back significantly. However, later in the day, we broke back above the 7500 level and it now looks as if we’re going to kill reaching towards fresh, new highs. This is a market that refuses to die, and therefore I think that buying the dips continues to be the way forward. Quite frankly have no interest in shorting the S&P 500, it is a market that simply continues to find buyers under almost any circumstance. Ultimately, I believe that the market then goes to the 2510 level, and then the 2525 level after that.

Dips offer value

I believe the dips offer value, and that traders will continue to be attracted to the markets in the circumstances. The stock markets in America continue to show signs of resiliency, and the S&P 500, of course, is one of the leaders. I believe that the market has a massive “floor” at the 2490 handle, and I think that eventually, we will break out to the upside for the longer-term move. We may have a significant amount of volatility in the short term though because quite frankly the markets have been very extended for some time, but nonetheless, the stock market still shows signs of bullishness, and I believe that the markets will continue to push higher and higher. Quite frankly, markets are in a one-way mode, so, therefore, there’s no point in trying to fight them. The markets continue to look constructive, and I have no interest in shorting the S&P 500 until we break down below the 2475 level, something that doesn’t look very likely to happen anytime soon. In fact, I suspect that adding to your positions will be possible above the 2410 handle.

S&P 500 Video 28.9.17