S&P 500 target 2350-2400 in the year 2017
Updated
The raging bull market extends further into the year 2017, after the "Italy" referendum was shrugged off.
There could be another pullback after the FED meeting this month, but after this super bullish market reaction to the situation in Europe (even if manipulated by the ECB) I see the risk of a new crash diminishing and the opportunity to extend the overall rally into a mega-bubble increasing - based upon the end of the earnings recession in the US and the end of the stock market crash in China and Japan growing again, too.
Entry: 2180-2200
Stop loss: 2170
Target: 2350-2400
Risk: 10-25 points
Reward: 150-220 points
There could be another pullback after the FED meeting this month, but after this super bullish market reaction to the situation in Europe (even if manipulated by the ECB) I see the risk of a new crash diminishing and the opportunity to extend the overall rally into a mega-bubble increasing - based upon the end of the earnings recession in the US and the end of the stock market crash in China and Japan growing again, too.
Entry: 2180-2200
Stop loss: 2170
Target: 2350-2400
Risk: 10-25 points
Reward: 150-220 points
Note
The blue colored target line at 2367 was reached with a intra-day high on February 23, 2017 and with a close above 2367 on February 24, 2017 (ahead of time). This increases the risk of a trend change.
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