S&P 500 Index could trade in a range of 3800-4100 for the next couple of months – Charles Schwab

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

The S&P 500 dropped back below the 4,100 level, which served as resistance back in September and twice in December. Economists at Charles Schwab expect the index to move within a 3,800-4,100 range over the next couple of months.

“One of the problems which may be making another ‘leg up’ in the S&P 500 is valuation – the forward P/E on the S&P is currently roughly 19 and it doesn’t look like the ‘E’ is growing in the near-term to help support a higher multiple.”

“We could be in for a period of sideways trading for the next couple of months in this index, perhaps ~3,800-4,100 (or maybe as high as 4,300, depending on rates/inflation data).”

[/s2If]
Join Our Telegram Group