S&P 500: Another Push Higher Likely
Update as of 11:15 a.m. ET: Recycle counts can be based on 18 days or 22 days. Using 18 days, produces a recycle on the daily chart of the S&P 500, and the e-mini futures, but it does not recycle the S&P 500 pit futures. If you use 22 days, none of the counts have recycled, which tells us we have a mixed bag at the moment. As always, we need to keep an open mind in the short-run.
As described in the video below, the daily DeMark count on the S&P 500 “recycled” after the close on Friday, which has potentially bullish implications for the next two weeks. Other video topics include (a) key S&P 500 levels, (b) bullish case vs. bearish case, (c) ongoing expansion of central bank balance sheets (money printing), and (d) European stock valuations vs. those in the United States.
After you click play, use the button in the lower-right corner of the video player to view in full-screen mode. Hit Esc to exit full-screen mode.
