S&P 500 Weekly Price Forecast – Stock Markets Continue to Plow Higher

The S&P 500 fell initially during the course of the week, as money was a complete disaster. However, we have turned right back around to break out towards the 4400 level which of course is a large, round, psychologically significant figure and the next 200 points higher, which is something that this market tends to pay close attention to. Underneath, the 4000 level is an area that people will pay close attention to, as it is a large, round, psychologically significant figure and of course the previous breakout that the market would be paying close attention to.

S&P 500 Video 26.07.21

In general, the stock markets are supported by the Federal Reserve, and I just do not see that changing anytime soon so I am not willing to short regardless. At the very most, I might willing to buy puts on to the 4000 handle, but more likely than not it is a situation that plenty of buyers will come back into this market regardless of what happens next. There is plenty of lose money, and therefore think it is only a matter of time before the value hunters come back in this market. Quite frankly, there is almost no way to short this market and therefore every time we drop drastically it is an opportunity from what I can see.

All things being equal, this is a long-term uptrend, and it makes no sense to try to fight this trend, as the markets are littered with the bodies of those who have tried to fight this trend, as liquidity is forcing money into the stock markets overall.

For a look at all of today’s economic events, check out our economic calendar.