Yahoo Finance S&P 500 Price Forecast – stock markets continue to grind
The S&P 500 initially tried to rally during the trading session on Wednesday but did start to give back some of the gains early in the day. Ultimately though, we are in a very bullish run and it looks as if we are more than likely going to go looking towards the 2800 level as value hunters will continue to flock to this region. I believe at this point, we will continue to see a “by on the dips” type of attitude, as the market continues to build up momentum to try to break above a massive resistance barrier.
S&P 500 Video 14.02.19
Looking forward, I believe that the market will make a serious attempt to try to break out above the 2800 level, as it is such a juicy target. If we can clear that area, then it opens the door to the 2900 level. There is still a lot of bullish momentum in this market, but the easy money probably has already been made. We are now starting to fight a lot of major headwinds, but ultimately it appears that traders are starting to focus on potentially strong signs of cooperation in the US government, and then finally a potential agreement or at least the possibility that some flexibility could be found in the US/China trade relations. Longer-term, I don’t know that actually pans out but it appears to be what the market is betting on. I have no interest in shorting right now.
Please let us know what you think in the comments below
This article was originally posted on FX Empire
