GO
Loading...

Pro: Why I’ve Turned Bullish on Stocks

Getty Images

The correction never came.

The S&P 500 had every opportunity to try and shake out the weaker hands, but it did not. This is an indication of underlying strength, and I now believe that the rally still has more upside.

Earnings season has proven to be far less scary than the market had originally feared, and although the data have been soft, we still have the ongoing tailwind of the Federal Reserve's bond-buying program. We are back to a point where we see disappointing economic data as market positive, because it assures us that there will be no talk of a Fed exit.

I have adopted a bullish bias at current level of 1,580, and I see the market trading up to 1,610. I will rethink that bias on a settle back below 1,570.

Watch "Futures Now" Tuesdays & Thursdays 1 p.m. ET exclusively on FuturesNow.CNBC.com!

Like us on Facebook! Facebook.com/CNBCFuturesNow

Follow us on Twitter! @CNBCFuturesNow

Featured

Contact Futures Now

  • Showtimes

    Watch Futures Now Tuesdays & Thursdays 1p ET exclusively on cnbc.com!

Sponsor Links

  • CME Group brings buyers and sellers together through its CME Globex electronic trading platform and trading facilities in New York and Chicago.

  • Take your trading to the next level with a platform that lets you trade stocks, options, futures and forex all in one place with no platform or data with no trade minimums. Open an account with TD Ameritrade and get up to $600 cash.