NASDAQ, Dow Jones and S&P 500 Forecast – US Indices Considerably Sideways on Monday…

S&P 500 Technical Evaluation

The S&P 500 continues to hold round all-time highs because it’s now flirting with $6,100. Something above there, in fact, is bullish. I believe a pullback right here in all probability makes some sense as properly. 6,000 must be supported at this juncture. I’ve no real interest in shorting the S&P 500, nor do I’ve any curiosity in shorting any of the opposite indices. At this level, the USA is by far the largest sport on the town for many worldwide traders, which is why you see each the indices and the U.S. greenback rising on the identical time.

This may not even be a narrative about energy in America, it’d simply be a narrative about how issues aren’t that dangerous compared to locations like France, for instance. So, with that being stated, I’m a purchaser of dips within the S&P 500 proper together with different indices and have completely no real interest in making an attempt to quick any of them.

Bear in mind, this time of yr additionally brings within the Santa Claus rally the place individuals do all the pieces they’ll to pad their stats who’ve underperformed for the yr, and all people who has carried out for the yr is aware of that that is going to occur, so they begin shopping for just a few issues right here and there as properly. It doesn’t imply that we’ve to go greater, it simply signifies that usually December does see that push.