S&P 500 Price Forecast – S&P 500 Continues to Threaten Highs Again
The S&P 500 has rallied a bit during the course of the session on Friday, in limited trading. By doing so, we are threatening the all-time highs, and I think is probably only a matter of time before we not only break him, but go much higher. Keep in mind that liquidity is going to be a bit of an issue this time year, but that may be exactly what helps this market take off. I believe at this point in time, it is obvious the dips should be thought of as value, in a market that has been clearly bullish for quite some time.
S&P 500 Video 27.12.21
The 50 day EMA sits at the 4600 level, and I think that would be a major support level, and I certainly think that the 4500 level will be as well. We have seen that area offer support multiple times in the past, so I look at that as your current “floor the market.” If we were to break down below there, then the market could start to unwind quite drastically, but I just do not see the catalyst for something like that at the moment. If it does happen, I would be a buyer of puts, but I would not short this market.
All things been equal, I think any time this market dips you have to be looking for an opportunity to buy it, mainly due to the fact that it is such a positive market over the longer term. The market has been choppy as of late, but it has not hesitated to start rallying after pullbacks.
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