S&P 500 Price Forecast – Stock Markets Head Towards All-Time Highs

The S&P 500 has rallied a bit during the course of the trading session on Friday, as we have reached towards the 4170 level by midday. That being said, the market is likely to go looking towards the 4200 level, a large, round, psychologically significant figure. The 4200 level probably gets broken to the upside sooner rather than later, and when it does, I think it will bring in fresh money. At that point in time, the market is likely to continue looking at the market to go to the 4250 level.

S&P 500 Video 26.04.21

To the downside, the 41 level should be rather supportive, and then of course the 4000 level underneath will also be supportive, not only due to the large, round, psychologically significant figure, but the fact that the 50 day EMA is sitting right in that area as well. Furthermore, there is also a gap that should come into play, as it looks like a market that will continue to go much higher given one catalyst or another. We are in the midst of earnings season, but any pullback at this point in time should be thought of as a gift, because it is clearly a trade that looks to continue going much higher. In fact, I do not have a scenario in which I am a seller, but I would be a buyer of puts if we can break down below the 3800 level, something that is not going to happen anytime soon. With this, I remain bullish and look it dips as opportunities to get long in a market that clearly has only one direction on its mind.

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