In recent months the SP 500 has seen much market volatility which has had a tremendous impact on investor sentiment. The index has been relatively range-bound for the past three months which has caused many to question whether the recent breakout will continue to all-time highs by the end of the year.
According to investors, this breakout could indicate a resumption of the previous bull market, which began in late 2019 and into early 2020. A bullish campaign has been building up to break-out of this range and surge to the all-time highs seen in the summer of 2020.
An analysis of the market data by GNG TV has revealed that there is a strong potential for these highs to be attained by year-end. The latest rally in the SP 500 has been fueled by strong positive investor sentiment. There have also been several major drivers that have propelled the breakout including the advancement of several Covid-19 vaccines, better than expected economic data, and continued fiscal incentives.
Analysts have predicted that this breakout could lead to a 2/3rds of a percent gain on US major equity indices. This would be a healthy advance, particularly when considering the uncertainties that are still lingering in the global economy due to Covid-19.
Additionally, this bullish breakout looks set to penetrate new heights due to the purchasing of stocks by Institutions. According to the markets, these purchases are being driven by a desire to diversify portfolios in anticipation of a recovery of the US and global economy.
The combination of all these factors creates an environment that has a high potential of enabling the SP 500 to reach its all-time highs by the end of the year. However, market participants should be mindful of the risks involved.
In conclusion, GNG TV’s analysis indicates a strong potential for the SP 500 to reach all-time highs by the end of 2020. Investors must remain mindful of the risks associated with any investment and always seek professional financial advice.