S&P 500 Price Forecast – stock markets rebound nicely during Tuesday

The S&P 500 has been very volatile over the last couple of days, but certainly has been positive over the longer-term, it’s likely that the market will continue to find buyers based upon value, and the fact that the market continues to show signs of resiliency tells me that we will continue to find a reason to go long one way or another. Ultimately, the market should continue to try to reach towards the 2950 level, the area that offered a bit of a “top” for the market. If we can break above that level, then the market is free to go to the 3000 level, which is my longer-term target anyway. I believe that the S&P 500 will continue to be supported, because quite frankly most stock traders around the world don’t have anywhere else to put their money right now.

The 2900 level for me is the “floor” in the market and should continue to be given the upward trend line on the longer-term charts, and the fact that the market gets aggressively bullish every time we get even close to that level, as seen at the 2910 handle. I’m a buyer, and not a seller. That doesn’t mean that every day is going to be puppies and rainbows, but certainly it looks as if the buyers have complete control of this market in general. Selling is out of the question until we get below the 2900 level.

S&P 500 Video 03.10.18