MIB Forecast August 28, 2015, Technical Analysis

The MIB as you can see gapped higher at the open on Thursday, heading well above the 22,000 level. With that being the case, the market looks as if it’s ready to go higher, and as a result we are buyers at this point in time. We look at pullbacks as potential value that we can buy as well, as is market should run all the way to the 24,000 level given enough time. With this, we have no interest in selling as the market has been far too resilient, and as a result we believe strength is returning.