S&P 2000 - Linger, Leapfrog or Let Go? - Real Time Insight

LINGERER!  That’s what I’m calling the market right now as the S&P 500 lingers around the 2000 level again today. This can’t last forever. Eventually we fail and break lower or rally and leave 2000 in our rear view mirror. We can’t just meander about this level forever, right?

Or wrong? This week we saw rallies in the beginning of the day nearly each day, but the bullish attitude disappeared into the close. Any way you slice it, we haven’t been able to get over the hump. There’s a magnetic attraction to the 2000 level on the S&P 500 right now.

What’s next for the market here? Do we linger, leapfrog or let go of 2000?

The way this rally has gone all along, you could make the case for lingering. A big chunk of this market move of the last couple of years has been a slow and steady accumulation. I don’t see any reason why this will be any different. We’re not going to get any surprises out of the Fed, and Japan and Europe have already put all their cards on the table. 

So, officially, my vote is linger. What do you think?
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