Perhaps a better cautious approach to the index may be to become a buyer when resistance levels are penetrated this means placing a buy order above the current market conditions and anticipating that a major juncture proving vulnerable could spur on additional speculative fury to the upside. Traders who are looking to buy the S&P 500 on slight dips in the market may find that they are being a bit too conservative today. However, technically the bullish momentum remains alluring, and the potentially correct wager.Įarly future calls for the US markets appear to be optimistic and there is reason to suspect record values will be seen early today and junctures like the 4755.0 to 4765.0 marks will be seen relatively soon. Yes, the index is certainly capable of producing a move lower, so it is important to have realistic expectations.Ĭonservative amounts of leverage must be used to protect against movements which are unexpected. Resistance levels continue to look vulnerable and targets above continue to look attractive. The trend higher in the S&P 500 is evident, and even contrarian speculators who believe the end of the bull market will end sooner rather than later must be feeling nervous at this time. The notion that the S&P 500 could break new records is actually not a major headline event it is where the index could finish this week of trading that may prove to be breathtaking. This propelled equity indices higher and the major US stock markets rocketed higher in unison.
Yesterday’s FOMC statement from the US Federal Reserve delivered clarity for financial institutions, and perhaps more importantly, met expectations.
The S&P 500 begins today’s trading on the cusp of all-time highs and speculators cannot be faulted for anticipating the day ahead with excitement.