S&P 500 quiet on Tuesday

The S&P 500 has done very little during the trading session on Tuesday, as we have reached towards the 2750 level before pulling back slightly. I think there is plenty of support underneath though, and I look at short-term pullbacks as buying opportunities. At this point, I like the idea of thinking of the 2700 level as a bit of a “floor”, extending down to the 2680 level. In general, I think that it’s only a matter of time before the buyers get involved on any debt, as it offers value in a market that should lead the rest of the world higher.

Money is flowing into the United States as it is probably the strongest economy that I follow, and quite frankly I think that the market will continue to favor value hunters coming in and take advantage of the overall uptrend. There is a major uptrend line below at the 2600 region, so I think that given enough time we will continue to see money flow into this market as there are very few economies that can stand up to scrutiny the way the American one can. Longer-term, I believe that we will go looking towards the 2800 level, and then possibly even the 3000 level by the end of the year. I remade bullish, but I also recognize that you need to find value to take advantage of and therefore patience is rewarded by those who can show it.

S&P 500 Video 06.06.18