Deutsche Bank analysts: bullish tendency will be extended into 2016 for stock market
The US stock market is on 6 year high and this bullish tendency will be extended into 2016, say say Deutsche Bank analysts. Binky Chadha (the chief global strategist at Deutsche Bank) told that average historical returns have been 13%, and 11% return for S&P 500 index for example.
The S&P 500 is on ranging condition with the primary bullish, and the key bearish reversal support level is 1,985.70 - it means that the endex is having some room to rise some points before and immediate after 2016. Anyway, the key reversal bullish resistance level is 2,134.42, and if this level is broken so the strong bullish scenario can be considered for the index for the next year.
By the way, Binky Chadha is having more optimistic voew than some other analysts. For example, Goldman Sachs predicts S&P 500 to be at 2,100 at year-end, and Morgan Stanley forecasts for the index to trade at 2,175 in the fourth quarter of 2016.
