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Published on Sep 25, 2016
During
the day on Friday, the S&P 500 fell a bit as we tested the 21.65
level for support. Quite frankly, I believe there is plenty support
below, and that the buyers will return sooner or later. I think that
supportive candles on pullbacks offer value that people will continue to
take advantage of, because quite frankly the interest-rate environment
should remain very below for the foreseeable future. I believe that we
will eventually reach back towards the 2200 level, which was the most
recent highs. With that being the case, I have no interest in selling
this market and believe that the 2120 level below is the “floor” and as a
result I think as long as we can stay above there we should be a lot of
find buyers given enough time. I have no interest in selling until we
break down at least below that level, and then perhaps even lower than
that.
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