-
Published on Sep 27, 2016
The
S&P 500 had a slightly positive session during the day on Tuesday,
but did get back a little bit of the gains. Ultimately, this looks a
market that’s trying to find some type of momentum in one direction or
the other. I believe that the 2120 level below is massively supportive,
and I also recognize that there is probably a somewhat substantial
support level near the 2140 handle. Because of this, I still believe in
the upside but also recognize that it is going to be choppy to get back
towards the 2200 level again. This is a market that is probably thriving
more for the low interest-rate environment than anything else, see you
can’t believe that there is any major confidence, just more or less the
typical “nothing better” type of attitude that stocks enjoy when the
Federal Reserve is in full quantitative easing mode.
No comments:
Post a Comment