S&P 500 Price Forecast – stock markets continue to show strength

With decent earnings, and in agreement between the United States and Mexico, it makes sense that the S&P 500 is trying to go higher and break out to the upside. Throw in the fact that the Canadians are more than likely going to sign on to some type of agreement in the next couple of days, the stock market has plenty of reasons to think that it should continue to go higher. Overall, short-term pullbacks should continue to be buying opportunities down to the 2900 level, an area that of course will attract a lot of attention. In general, I think that the market will continue to go higher, but it won’t necessarily be the easiest thing to do. If the US dollar falls further, it should continue to go higher based upon higher profits overall.

I think that given enough time, we will probably go looking towards the 2950 level, and then the 3000 level which has been my longer-term target for quite some time. This is a marketplace that continues to offer plenty of opportunity, and valuations aren’t even that stretched at this point. With that in mind, I like the S&P 500 as I do other stock markets around the world. I believe that we are starting to enter a new phase of “risk on” going forward, and it’s probably only a matter of time before everybody else starts to express that opinion. Shorting is impossible until we break significantly below the 2900 level, and even then it would be very difficult.

S&P 500 Video 30.08.18