SP& 500 Forecast November 27, 2015, Technical Analysis

The S&P 500 of course didn’t do anything on Thursday as it was Thanksgiving Day and the Americans of course were at home. However, we still see quite a bit of bullish pressure underneath and therefore we have no interest whatsoever in shorting this market, as the market should continue to reach towards the 2110 level. Eventually, we should reach above the recent high, and that of course should send this market much higher as the longer-term uptrend continues. The hammer from the Tuesday session shows just how much buying pressure is underneath, and we believe that should continue.