• The S&P 500 rallied during trading on Wednesday, reaching towards the highs again, and looking very likely to break out to the upside. I think that given enough time, this market will continue to pressure and go much higher.
With decent earnings, and in agreement between the United States and Mexico, it makes sense that the S&P 500 is trying to go higher and break out to the upside. Throw in the fact that the Canadians are more than likely going to sign on to some type of agreement in the next couple of days, the stock market has plenty of reasons to think that it should continue to go higher. Overall, short-term pullbacks should continue to be buying opportunities down to the 2900 level, an area that of course will attract a lot of attention. In general, I think that the market will continue to go higher, but it won’t necessarily be the easiest thing to do. If the US dollar falls further, it should continue to go higher based upon higher profits overall.
The blue-chip CSI300 index fell 1.0 percent to 3,351.09 points, while the Shanghai Composite Index also closed down 1.1 percent at 2,737.74 points.
Reference: Reuters, CNBC