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Published on Aug 15, 2016
The
S&P 500 rallied during the course of the session on Monday, as we
continue to see buyers step into this marketplace. The 2200 level of
course is a large round number that will attract interest by traders
around the world. I believe that as we pullback we should find plenty of
buyers below, as we have seen such a nice uptrend. I have no interest
in selling this market, because quite frankly the US indices in general
look very healthy, and of course will continue to attract money in a
very low interest-rate global environment. On top of that, the US
economy is considered to be one of the stronger economies out there, so
it makes sense that the buyers continue to take advantage of value when
it appears.
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