S&P 500 Forecast December 9, 2016, Technical Analysis

The S&P 500 rallied on Thursday, reaching towards the 2250 level. This is an area that has a certain amount of psychological importance, so pullback from here would be expected. A pullback should offer value though, and a market that is obviously very bullish. I have no interest in shorting this market, and I believe that we will continue to go even higher given enough time. This explosive breakout needs a little bit of momentum building going forward, so selling isn’t even a possibility due to the fact that you have to believe that there are people who have missed this rally that would love to get involved.