S&P 500 Trading Outlook (2-3 Days): BULLISH
The S&P 500 is getting closer to areas where a stallout is possible.
The broad index has been UP 7 days in the last 10 and momentum is beginning to wane a bit. Financials continue to lag and remain an issue.
HOWEVER, until evidence of exhaustion and/or trend deterioration occurs, I continue to think that stocks are likely to climb a bit higher.
My thought here is that 2740-50 is possible into Friday/Monday before reversing lower.
A break below 2700 would provide reason for caution.
S&P 500 Futures Chart
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Author has positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
