S&P 500 Index Trading Outlook (3-5 Days): Bullish
We remain bullish barring a close under 2873. And we maintain our S&P 500 upside target of 2945-50.
The S&P 500 still looks to push higher as pullback attempts prove futile and short-lived intra-day.
Tuesday’s surge proved to be the biggest gains of the week thus far in what otherwise has amounted to range-bound trading.
Overall, movement down under 2891 on a close would arouse suspicion. Below thatand 2873 becomes important support.
Barring any movement under these levels, and minor intra-day weakness should be buyable.
A closes over 2936 should produce another 10-15 points of upside into early next week.
S&P 500 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.
