Yahoo News S&P 500 Price Forecast – Stock Indices Continue to Climb
The S&P 500 initially pulled back just a bit during the trading session on Monday but then shot higher. We are above the 3300 level early in the session, and it does suggest that we are probably going to go looking towards the gap above, and then eventually the 3400 level. That is the all-time high, and I think it is only a matter of time before we get there due to the fact that the Federal Reserve continues to add liquidity to the markets, and therefore people are buying “things” to get away from the US dollar itself.
S&P 500 Video 04.08.20
Have been in an uptrend anyway, so regardless as to what we are doing in the short term, buying is the one thing that you should be looking at, as selling is very dangerous to do. I think there is significant support at the 3200 level which has been sustained, so that is something to keep in mind going forward. The 3400 level could be a bit difficult to get above, but once we do that should open up a move towards the 3500 level.
Even if we break down below the 3200 level the 50 day EMA is sitting at the 3130 level, and therefore I think it is only a matter of time before the buyers return on any pullback. Remember, stock markets have nothing to do with the economy, and everything to do with liquidity. As long as the Federal Reserve continues to throw money at the market, they will continue to buy things. This is a market that has been one way for a while and I just do not see it changing.
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This article was originally posted on FX Empire
