S&P 500 Index Gains Momentum, Could Point To 3280 Over Short-Term

Guy Cerundolo
s&p 500 index momentum strength price target 3280 month july investing chart image

S&P 500 emini futures Chart

The S&P 500 Index has moved higher after the reversal and ellipse that triggered out long stance.

Since that time, price has continued to climb steadily.

While it’s important to manage risk / reward on any trade, it appears that momentum is improving.

This adds confidence that a wave 4 low should be in. But as with any short-term ideas, it’s important to follow the trend and manage positions with stops.

Our analysis indicates that the S&P 500 could trade as high as 3280.

The author may have position 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.