S&P 500 Price Forecast – Stock Markets Continue To Show Resiliency

The S&P 500 is very bullish, and it looks as if the market is trying to reach towards the 3500 level yet again. If the market can break above the 3400 level, then it’s likely that the market will then go looking towards the 3500 level which is my longer-term target. You should notice that the 50 day EMA has offered quite a bit of support, and therefore I think it for the most part is going to offer a bit of a “floor” in the market. Beyond that, the uptrend line also is offering support, so it really at this point I don’t see any argument for shorting this market. Pullbacks should offer value the people can take advantage of, and that’s exactly how you should be looking at it.

S&P 500 Video 20.02.20

The Federal Reserve continues to keep loose monetary policy and that of course does drive the value of markets higher, as they have done for the last 10+ years. Ultimately, I don’t see any change in the short term, because not only is it a central bank play, but keep in mind that the inflow from places like Asia will also keep this market higher. After all, the money flowing from places like that is simply trying to avoid a lot of trouble around the world. The United States is one of the few places that continues to show growth, and the stock market certainly reflects that. I like the idea of buying dips as they offer value. Again, I believe that the market will eventually go looking towards the 3500 level.