S&P 500: Price Consolidation Is Positive
Petros Steriotis | Dec 01, 2014 04:46AM ET
ES futures consolidate a few points below all time highs. 2.050, 2.035 and 2.015 offer good support and may be used by dip buyers for entering new long positions. Price consolidation is positive as it reduces “overbought” conditions. My estimate of new record levels (most likely 2.100) by year-end is still intact. In my honest opinion, this huge bull market has still a long way to go.
S&P 500, daily chart:
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