S&P 500 and NASDAQ 100 Forecast November 20, 2017 The S&P 500 fell a bit during the trading session on Friday, as we continue to grind back and forth. Currently, I believe that the market is essentially trying to catch his breath after a significant move higher, as we have essentially gone nowhere over the last couple of weeks. I believe that the 2550 level continues to offer significant support, and a breakdown below that level would be very negative. However, I would not expect it to turn the market around completely, rather it should send the market down to the 2500 level. A break above the 2600 level is very bullish, and is the next leg higher just waiting to happen. Nonetheless, I believe that we are going nowhere quick, but still believe in buying on the dip, at least in short term increments.
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