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Published on Sep 7, 2016
The
S&P 500 initially fell during the course of the day on Wednesday,
but bounced off of the 20-day exponential moving average in order to
form a hammer. I believe that this market is going to continue to find
buyers, and therefore every time it pulls back you have to suggest that
their perhaps is going to be some value to be found. I think that we
will reach towards the 2250 level, and therefore I continue to buy dips
as they appear as I look at them as short-term buying opportunities
until we get the large move that I feel is coming. In fact, I believe
there is massive support all the way down to at least the 2150 handle,
and most certainly below there. In other words, I am a “buy only” type
of market.
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