The S&P 500 initially pulled back slightly during the trading session on Friday, but then broke above the 2800 level. That’s an area that has been resistance previously, and I think at this point breaking above that level would be a very strong sign. I think short-term pullbacks could occur, but those will more than likely offer buying opportunities, as I think that the market has shown its proclivity to go higher, and obviously the global markets are reacting positively to better than expected Bank earnings out of the United States. I think that it will be a bit noisy in the way of, but if you are okay with volatility, it looks as if we are trying to go higher and will probably look for the 2875 level.
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S&P 500 and NASDAQ 100 Forecast July 16, 2018