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Published on Aug 1, 2016
The
S&P 500 went back and forth during the course of the session, as we
are going to continue to see quite a bit of back and forth type of
trading. The market has been trying to grind its way through the upside,
but as you can see the 2160 level has been supportive over the last
several sessions. With this, I believe that the market should continue
to go higher but we of course are going to have to try to pick up enough
bullish pressure in order to go higher. We need more buyers, and quite
honestly, it’s common for markets to consolidate right before
continuation. We’ve seen a nice bullish move to the upside, and as a
result it’s likely that the markets will eventually continue that move
so I am bullish.
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