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Published on Nov 29, 2016
The
S&P 500 had a positive session on Tuesday, bouncing off of the 2200
level to show continued signs of bullishness. I believe that pullbacks
at this point will continue to find buyers below, and that the 2180
level below is essentially the “floor” in this uptrend. I think that the
S&P 500 will follow the rest of the US indices in general, meaning
that we should see plenty of bullish pressure over the longer term.
That’s not to say that it won’t be choppy, you can almost count on that,
but at the end of the day this is a market that certainly has a lot of
bullish pressure in it, and therefore you can’t go against that type of
move.
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