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Published on Nov 18, 2016
The
S&P 500 had a fairly quiet session on Friday, as we continue to
hover around the 2180 handle. I believe that this market is trying to
build up enough pressure to break out to the upside, as the 2200 level
laws should be massively resistive. Once we get above there, this market
then becomes more or less a “buy-and-hold” type of situation, and I
believe the pullbacks could be thought of as potential buying
opportunities that show signs of support. I think that the 2150 level is
essentially the support level that we are working with right now, and
obviously that the area above needs a lot of momentum to be broken
through.
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