Market Strategist Sticks to Bullish Outlook, Sees S&P 500 Rallying to 5,000
-
The stock market rally has continued despite the Fed raising rates, disproving the notion that "you can't fight the Fed." Market forecasts based on interest rates have been proven wrong.
-
The article author caught the bottom in 2020 and correctly predicted the rally to over 4,000. He expects the S&P 500 to rally to 5,000+ before a long-term top.
-
After the summer 2023 pullback, the author remained cautious until the market decisively moved through the 4,607 resistance level. This signaled a bullish outlook again.
-
With the S&P 500 over 4,790 now, the author expects a rally to near 5,000 as long as the index holds above 4,690 support. A break below would lead to a pullback first.
-
Rather than a yearly price target, the author provides dynamic support and resistance levels to gauge the market's next likely moves in the coming weeks. The goal is a non-linear, adaptive approach.