S&P 500 Forecast: Swimming Upstream

At this point, I would not chase the market, but you certainly cannot sell it until we see something happen in the bond market that shows traders are taking the Federal Reserve seriously again.

  • The S&P 500 Index rallied quite nicely on Friday, and we threatened the top of the shooting star from the previous day.
  • If the market does break above the top of the shooting star, then it opens up the possibility of the 4300 level being targeted.
  • The 4300 level is an area that I think you will have to continue to see a lot of interest in, as it had been massive resistance previously.

James Rogers

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