S&P 500 rallies during the trading session on Thursday

The S&P 500 rallied significantly during the trading session on Thursday, reaching towards the 2680 barrier. If we can break above there, the market should then go to the 2700 level, and then eventually break out to the upside. I think that the 2750 level will be targeted, followed by the 2800 level. I think that short-term pullbacks are buying opportunities, but we continue to see higher lows in this market and that shows us that the buyers are becoming more aggressive. I think that ultimately, we should continue to go towards the 3000 level over the longer term, but it is going to take a significant amount of time to get there. I believe that corporate earnings should continue to do quite well, and that this market should continue to go higher based upon the risk appetite of traders around the world.

The tensions between the United States and China calmed down should be a boost for this market as well, and I think that the S&P 500 should continue to be reflective of the overall risk appetite of traders around the world. It’s not that it won’t be difficult and choppy, rather that it should continue to reflect that we are going to go higher as people feel more comfortable with the overall situation. Beyond that, it looks less likely that the United States is going to take some military action in Syria, and that of course helps this market.

S&P 500 Video 13.04.18