S&P 500 Price Forecast – Stock Markets Continue to Break to All-Time Highs

The S&P 500 initially pulled back a bit during the course of the trading session on Monday but then turned around to reach towards all-time highs yet again. Quite frankly, the market seems to be moving based upon the 10 year notes, which have seen a little bit more selling pressure, meaning the people are willing to take advantage of risk. The VIX is currently sitting just above 14, which of course means there is a fear out there as well. With that being the case, the market looks as if it is ready to continue going higher to reach towards the 4400 level.

S&P 500 Video 13.07.21

Remember, the market does tend to move in 200 point increments, and it is worth noting that the 4200 level previously had been rather important. After that, we also have the 4000 level underneath that is massive support due to the fact that we have a bit of a gap and of course the longer-term psychology. With that being said, if we were to break down below the 4000 level that I might be a buyer of puts, but until we get to that point, I do not have any interest in trying to get bearish on this market.

I do not have any interest whatsoever in trying to get cute and trying to flat out short the market, because that has been a great way to lose money over the years. With the Federal Reserve keeping an eye on financial conditions, you can rest assured that also means stock markets as well. With this, we continue to grind higher as yields in the bond markets offer no other alternative.

For a look at all of today’s economic events, check out our economic calendar.