The S&P 500 initially dipped during the trading session on Thursday but turned around to form a bit of a hammer. The market looks as if it is trying to break out to the upside, and I think we will go towards the highs again at 28 A.D. over the next several days. Pullbacks continue to be buying opportunities, and I think that the “floor”, at least in the short term is at the 2800 level. I believe that the markets continue to rise based upon decent earnings, and of course the simple fact that the United States is by far the strongest economy that we see in the G 10 right now. I like buying dips and will continue to do so. I also believe that the 2800 level is essentially a “zone” of support down to the 2790 handle.
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S&P 500 and NASDAQ 100 Forecast July 27, 2018