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S&P 500: Next Logical Stop 2300

Published 12/27/2016, 09:33 PM
Updated 07/09/2023, 06:31 AM

On December 5th we already forecasted the S&P500 would hit SPX2175 +/- 5 followed by a 15-25p pulback and then a rally to SPX2300. See here.

Since the proof is in the pudding, 6 days later the S&P500 hit SPX2278 and then dropped to SPX2248 the following day. That's two forecasts that nailed the market to the T. This is the power of the objective, factual, techincal analyses intelligent investing provides to its premium members.

Opinion and beliefs have no place in the market if you want to be succesful. So what's next? Looking at the current setup we see what's most likely an ascending bullish triangle forming that targets ideal SPX2296-2298. Also, this target is still in line with our December 5th forecast.
SPX 1 Hour Chart


We see this target being reached around December 29/January 3 before a 30-40p correction unfolds. What happens after that and what price levels the S&P500 will reach after is only known by our premium members, but we are rather certain based on our analyses that it will far exceed SPX2300, as this bull is not done in a long shot.

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