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Published on Oct 26, 2016
The
S&P 500 went back and forth during the day on Wednesday, forming a
big neutral candle. Because of this, the market looks as if it is trying
to rally to do next but the most important thing that I see is the 2120
level below been supportive enough to continue to push the market
higher over the longer term. I think that it’s not until we break down
below the 2100 level that you can consider selling this market, and I
also believe that the low interest rate environment should continue to
lift the S&P 500 overall. If you are willing to deal with this trade
and the potential choppiness, at this point time I believe that long is
the only direction you can be found in.
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