I was on CNBC last week talking about the possibility of the S&P 500 hitting 2000 over the next two weeks.
I got a little pushback even though a move to 2000 would only be about 4.6%. Nobody can predict markets but they tend to move in predictable cycles. Below is a chart of the S&P 500. What is interesting as that four times since December the S&P has gone down to the 2000 level and bounced back. You can also see a lot of support for the 2000ish level from September and October.
The S&P could very well rally here and never look back, but with turmoil still in Greece and Ukraine and uncertainty about what the Fed is doing, a move back to 2000 wouldn’t be that strange.