The S&P 500 (^GSPC) has gained roughly 18% in the last 6 months, with only a slight pullback in late March to mid-April. Many analysts on Wall Street have raised their year-end targets for the S&P 500.
Fundstrat Global Advisors Managing Director & Global Head of Technical plan Mark Newton joins sector Domination to discuss the momentum behind the S&P 500 and the sector’s overall health.
Newton gives his bullish stance, advising investors: “I think this is a year for hazard-taking. I’m very bullish. I think we push up to probably 5400 at a minimum. We can see consolidation I think, in the fall. But now is not a time to be running for cover. If anything, with evidence of treasuries starting to gain some traction and wheels are starting to roll over and the dollar is starting to pull back. That’s been great for emerging markets.”
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