S&P 500 Price Forecast – Stock Markets Rocket Higher After The Jobs FigureThe stock markets when higher during the trading session on Friday after the jobs number was a complete blowout. At this point, the market looks ready to make fresh, new highs.
The S&P 500 shot higher during the trading session on Friday after a blowout jobs number. This shows that the underlying economy in the United States continue to strengthen, and it also means that the Federal Reserve doesn’t have to do anything. We already know that the Federal Reserve is on the sidelines when it comes to monetary policy, and at this point it’s likely that the markets will continue to go higher, breaking out to a fresh, new highs as we kick the “Santa Claus rally” into full gear.
S&P 500 Video 09.12.19
Underneath, the 50 day EMA offers plenty support, that’s assuming that we could even break down below the 3100 level. I don’t think we will, and I think this market continues to look likely to explode to the upside as the end of the year nears. All we need at this point is good news coming out of the US/China situation we have essentially a “perfect situation” for the market to continue going higher. I have no interest in shorting this market, at least not until next year. It’s obvious that the market is going to continue to find buyers on dips as money managers try to pad their results for clients at the end of the year which is the catalyst for the so-called “Santa Claus rally.” That being said, the market is likely to pull back occasionally, but this pullback should be thought of as a value. Unless we get some type of major significant break down, the trend is very much intact.
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