15 Aug 2021, 11:01

The S&P 500 Index continues to make new all-time highs. However, we are right at the resistance now. The index could have some difficulty breaking above the blue line in the chart above. This may signal an opportunity for the bears to send the index back down again. If it goes back down, the black line support would be the target for it to bounce back up again.

The main concern for stock market bulls right now would be the threat of inflation which could cause the Fed to increase interest rates next year. And, watch out for any signs of tapering from the Fed. If the central bank threatens to remove its monetary stimulus soon on the signs of improving economy, this stock market bullish story may start to unravel.