S&P 500 Forecast October 21, 2014, Technical Analysis

The S&P 500 as you can see broke above the 1900 level by the time we closed at the end of the session on Monday, which is the price that we were looking for in order to start buying. Because of that, we think that this market does in fact go higher, probably heading to the 2000 level given enough time. Pullbacks at this point in time should continue to offer buying opportunities, as we feel the S&P 500 has in fact bottomed. We have no plans whatsoever in selling this market until we get below the 1800 level.