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Published on Oct 7, 2016
The
S&P 500 initially tried to rally during the day on Friday, but
after the soft jobs number, we ended up falling and forming a negative
candle. With that being the case, looks as if we are testing the 2150
region or support. I believe that sooner or later there are buyers will
get involved in this market, and I still believe that the 2120 level
below is massively supportive and essentially the “floor” in this
market. A supportive candle is reason enough to go long, and at this
point in time I have no interest in selling as I believe that the low
interest-rate environment will continue to support not only the S&P
500 but most other stock indices in the United States as well.
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