SP500 Still on Track to Test 3,000 Level
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We still see the US share market rising sharply. The cash SP500 should reach the 3000 level. We
have an important Monthly Bullish Reversal standing at 212342. Only an August closing below 193000 would be short-term bearish.
There remains no other game in town. With the lethal combination of the Sovereign Debt Crisis and the Cycle of War, the only place to park big money will be the private sector and that the smart money will choose equity while the so-called “conservative” will buy corporate debt, especially with corporate cash at record highs.
