Long Term S&P500 Update

٣ يناير ٢٠١٨

On the weekly chart, it seems as if we are approaching a top that should give us a reasonably substantial correction sometime during 2018. However, on the shorter term, the market it still pointing up, and therefore, is still good to buy on intra-day and intra-week swings to the upside. Historically, the market finds some kind of resistance when approaching round figures such as 2700 and we must be careful when buying around these levels. It would be a bad idea to start looking for bearish trades before the market gives any evidence.

Overall, I am looking for the market to top out in 2018 and retrace but I expect this bull market to continue and by 2019, we should have new highs depending on the duration of Primary 4.