S&P 500 Index May Reach 3040 IF This Happens

The US stocks market is currently following our projected path higher.

Today we provide a few thoughts on the S&P 500 along with price levels to watch and targets.

The ellipse turning point indicator we highlighted on March 25 was very timely to catch the turn in the S&P 500 and momentum is building. 

We believe a weekly close above 2872 will start the next leg higher to 3040.

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S&P 500 “daily” Chart

Author has a 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.