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

POSTED BY: VANCE HOWARD

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

The HCM-BuyLine® is a proprietary indicator of Howard Capital Management, Inc. (HCM), a registered investment adviser. There can be no guarantee that the HCM-BuyLine® indicator will perform as anticipated. Its use does not guarantee outperformance of strategies not employing such programs and does not insulate an investor from the risk of loss. The Pilot’s Advisor, LLC is not affiliated with Howard Capital Management, Inc.