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· S&P 500 Price Forecast – Stock Markets Continue To Power Higher

The S&P 500 rallied significantly during the trading session on Tuesday, breaking out and above the 3350 level. The market is at an all-time high, and it shows no signs of giving back these gains. I would love to see some type of pullback in order to pick up a bit of value, and that’s how pullback should be looked at. The 50 day EMA is walking right along with the uptrend line, so that is at least two reasons to think that this market will find buyers underneath. Furthermore, unless something fundamentally changes is difficult to imagine that the stock market falls apart.

Think about the following: coronavirus, trade wars, global demand slowing down, and a rising US dollar. Those are all things that had I told you were going to be part of the economic outlook at one time, you would be willing to bet against the stock market. Having said that, here we are. That being the case it’s very likely that we are simply trading on one thing and one thing only: that would be the Federal Reserve keeping monetary policy loose. If that’s going to be the case, stocks are going to continue to rise because that’s the only thing Wall Street truly cares about over the longer term.

That being said, I would love to see a pullback towards the 3300 level, or again, that trendline. Either way, I look at pullbacks as value propositions and they have in fact been for several years. Selling is all but impossible at this point.

· share markets nudged higher on Wednesday amid hopes the worst of the coronavirus in China may have passed, although prevailing uncertainty about the outbreak kept investors wary.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.9% while Chinese shares .CSI300 reversed early losses to trade up 0.41%.

The global mood brightened after China’s senior medical adviser said on Tuesday the number of new coronavirus cases was falling in some provinces and forecast the epidemic would peak this month.

· Japan’s benchmark stock index Nikkei advanced on Wednesday, as heavyweight SoftBank Group Corp soared after a U.S. federal judge approved a merger between its U.S. wireless unit Sprint Corp and T-Mobile US Inc.

The Nikkei share average closed 0.74% higher at 23,861.21, while the broader Topix slipped 0.04% to 1,718.92.

SoftBank Group jumped 11.9% to become the country’s second-biggest company by market value after a U.S. federal judge rejected an antitrust challenge to the proposed takeover of SoftBank’s subsidiary Sprint by T-Mobile.

· Chinese shares rose for a seventh straight session on Wednesday after latest data showed new virus cases in the country fell to their lowest since late January.

At the midday break, the Shanghai Composite index was up 0.21% at 2,907.79 points, while China's blue-chip CSI300 index gained 0.27%.