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Published on Nov 23, 2016
The
S&P 500 fell initially on Wednesday, but turned around to form a
hammer. The hammer of course ended up forming a bullish candle sitting
right at the 2200 level suggesting that were going to go much higher. A
break above the top of the hammer would send this market looking for the
2300 level as far as I can see, and I also believe that we will
continue to go even higher. We could pull back towards the 2180 handle
as well, and at that point I feel that it’s only a matter time for the
buyers involved in the way. After all, the US indices continue to be
very strong, and of course it seems as if the recent move only
solidifies that we are going to continue to see buyers enter the market
based upon the surprise election of Donald Trump as well.
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