S&P 500 Price Forecast – Stock markets reached towards highs again

The S&P 500 initially pulled back during the trading session on Wednesday, but then shot straight up in the air. It looks as if the market is trying to reach towards the 3000 handle above, which of course will attract a lot of attention. That is a major barrier, but it does seem it’s only a matter of time before we find this market being able to get above there. Short-term pullbacks at this point should be a buying opportunity, and then I think eventually we will build up enough momentum to break out. Ultimately, you should keep in mind that the holiday is distorting the marketplace a little bit here, so I do think that it’s only a matter of time before we get the push higher, perhaps it will do that after the jobs number comes out on Friday.

S&P 500 Video 04.07.19

That being said, as soon as we can get a daily close above the 3000 handle, it’s likely that the market could go much higher. Short-term pullbacks at this point will probably be supported, but even if we get a little bit more of a flash the market probably has a lot of support at the 2950 level as well. That being said, we are precarious at this point and it’s going to take just a little bit to push this market to the downside. Whether or not we can change the trend is a completely different story, but right now I do think that we are more than likely going to see the buyers come in to push this market to the upside.

Please let us know what you think in the comments below