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Published on Nov 21, 2016
The
S&P 500 rallied on Monday, slamming into the 2200 level. I have
been saying for some time now that if we can break above this level, the
market becomes more of a “buy-and-hold” type of situation, and could go
as high as the 2500 level given enough time. Pullbacks offer more and
more value going forward as we continue to build up quite a bit of
pressure in a market that looks ready to break out soon. Having said
that, we are bit overextended so this could take a moment but I believe
that eventually the S&P 500 goes much higher just as the rest of the
US markets do. I have no interest whatsoever in selling, and believe
that the buyers will continue to run this market going forward as the US
looks primed to outperform the rest of the world economically.
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