news.goldseek.com / By Avi Gilburt / Thursday, 2 March 2017
I have recently written a few articles discussing my directional perspective on the S&P 500 (SPX). In fact, my long-term target has been 2537-2611SPX for years now. Moreover, before we entered 2016, I noted that I was looking for a rally to 2300 in 2016, but with the market potentially dropping to the 1800 region first into February, as you can see from the chart outlining our analysis for 2016.
But, I also believed that the 2300SPX region was only a way point, as I expected us to head much higher in 2017. To that end, my first larger degree target was in the 2400-2440SPX region. And we have just struck the lower boundary of my target region.
“Market Just Not Trading Upon Fundamentals”
I have always loved the statement: “The market is just not trading upon fundamentals at this time.” This is the answer so many people have when the market does the “unexpected,” just like the current stock market rally.
In order to accept such premise, one has to believe that fundamentals are supposed to be running the market. But, if they are not, should not one logically be turning to that which runs the market all the time? Is there something one can point towards which can, much more consistently, identify the appropriate directional bias for the market?
The post Will The Fundamentals Catch Up To The Market, Or Vice Versa? appeared first on Silver For The People.