The S&P 500 has initially pulled back a bit during the trading session initially on Thursday, but then turned around to rally. The market continues to press up against the 2800 level, an area that has been massive resistance, and I think if we can break above there the market is free to go much higher. There is a lot of support underneath, especially near the 2750 level. Below there, the 2700 level of course is also important. We are in and uptrend, and we are trying to break above the 2800 level. Once we do, the market should then go to the 2850 handle, and then possibly the 2900 level as well. Pay attention to risk appetite in general, that will continue to drive this market higher. I look at pullbacks at this point as a nice buying opportunity and offering a bit of value in a very strong market.
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S&P 500 and NASDAQ 100 Forecast June 15, 2018