The S&P 500 has been very volatile but ended up forming a bit of a hammer during the trading session on Wednesday which is very positive. I think that the market is ready to rally again, and now it looks like only a matter time before we go looking for moves above the 2900 level. Once we get above that level, the market should then go looking towards the highs and then the 3000 handle. Beyond that, the market should continue to find buyers on dips as it has proven itself to be extraordinarily resilient. A break down below the lows from last week could send this market down towards the 2850 handle, but I believe that market participants will continue to look at this market as one that offers value on dips.
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S&P 500 and NASDAQ 100 Forecast September 13, 2018