This still being a free public forum, I'd like to offer my 2 cents worth on what I think is in store for the S&P and the markets in general.
First off, there is nothing even remotely normal about this market in relation to history prior to 2008 or 2009.
Secondly, the ECB, BOJ, and PBC continue to ease, with the ECB saying it will continue with full blown QE. Though I hope I'm wrong, the Fed is trying to show some spine by "threatening" an interest rate raise, but doesn't dare.
Which brings the third point to mind. With rates at zero and threatening to go negative, stocks continue to be the only game in town that pays. Any more, no one is hardly paying any attention to whether or not the markets have any business continuing to trade up base on fundamentals and forward guidance. It's the only thing that pays and complacency has become irrelevant.
Personally, I'm looking for some consolidation in the present area and then a break higher before Christmas. It could even break to new all time highs following that, so long as there are no black flag event to spoil the party. And mind you, there is plenty of potential out there for just that to happen sometime soon. But it would take something pretty sizable to spoil this party because the bad news is good news paradigm is becoming culturally engrained.
Trading/investing without chart analysis is like bringing a knife to a gunfight.
