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The S&P 500 initially fell during the course of the week, but found enough support at the 1945 level to turn things back around and form a nice-looking hammer. This hammer of course suggests that the market is going to go higher, on a break above the top of the range. With that, we are very bullish of this market as it is without a doubt very positive anyway. We ultimately believe that this market goes to the 2000 level, thereby a making it a “buy only” type of marketplace at the moment.
