We have made a significant change to our S&P 500 forecast today. This Index has failed to correct how we expected over the past few weeks and, as a result we are pushing out our long entry zone to mid September/ mid October.
We know this is a huge time and target range but we will “hone in” on the target zone over the coming weeks.
For now we believe it’s best to sit on the sidelines on this Index as it could move in either direction over the next couple of weeks.
As a treat we’ve also highlighted our “strong support trend lines” – dotted greens and one thick green line. If this Index gets down to those levels our current view is that this would be an immensely good long term buying level.
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