Based purely on greed the S&P 500 might make a big and fast move upwards in the next months, now that the bear market idea is getting totally crushed by bulls since the Brexit vote. The bulls hope that the central banks around the world are going to keep on pumping money into system, which could drive equities even higher.
This rally might not last very long and stop in early 2017, but until then fully forget any fundamentals and enjoy the ride.
Macro long: Below 2150
Macro target: 2300-2350
Macro stop loss: 1965
P.S. Please be aware that on a smaller time-frame the market might make a pullback before this strong rally starts here where the green arrow ends:
This rally might not last very long and stop in early 2017, but until then fully forget any fundamentals and enjoy the ride.
Macro long: Below 2150
Macro target: 2300-2350
Macro stop loss: 1965
P.S. Please be aware that on a smaller time-frame the market might make a pullback before this strong rally starts here where the green arrow ends:
Today I came across a well made chart analysis video filmed by Joseph Hentges, which shows several big picture things I also noticed. For example the resumed bullish moving average cross on the S&P 500 on the monthly - something which has never happened before in the last 26 years, which also shows the big bullish potential for the rest of the year:
www.youtube.com/watch?v=5Z--I_ID...