S&P 500 Price Forecast – Stock Market Continues Towards All-Time Highs

The S&P 500 has rallied just a bit during the trading session on Friday, but quite frankly this is a market that continues to go higher regardless of what happens next. Ultimately, this is a market that I think continues to find plenty of buyers on dips, especially near the 4400 level. Underneath there, then we go looking towards the uptrend line and then perhaps even the 50 day EMA. That of course is an area that I think a lot of people will be paying close attention to as the uptrend line and the 50 day EMA both have been rather reliable.

S&P 500 Video 09.08.21

On the other hand, if we continue to go higher it is likely that the 4500 level will be targeted rather quickly, and then perhaps even the 4600 level as this market likes the move in 200 point increments. I continue to buy dips and continue to push multiple waves higher. It is probably going to be rather choppy and noisy, due to the fact that this is August, a time when most bigger players are away at holiday and therefore volumes to drift a little bit.

Nonetheless, the direction is higher overall, so I do like the idea of buying dips and simply taken advantage of what the market is offering. I have no interest in selling this market, and unless there is some type of unforeseen event during the month, I cannot anticipate that the S&P 500 would get hammered. Because of this, I believe that we will see 4500 much sooner than we see 4300 in the S&P 500.

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