They Called Me Crazy – Now Look at the S&P 500

They called me crazy at the beginning of the year when I said my target for the S&P 500 was 6500. In April with the massive pullback, on Charles Payne’s show I reiterated my position, and he looked at me like I had two heads. I had an interview a week back and was asked what my long-term view of the S&P 500 is, and said I think and feel we could double the index in 3-5 years. They just about fell out of their chairs. The media is trying to scare everyone out by saying the markets are hitting all-time highs, should you sell? That makes no sense to me. One of the most bullish indicators, signals, whatever you want to call it, is a new high on the index.

The chart above is the QQQ ETF, which is tech-heavy and has formed a bullish cup and handle.

Feeling a little anxious about the market, even with a strong economy? The truth is, money isn’t fleeing the market; it’s simply moving around, creating fresh opportunities.