SPX On Track To Meet Its 2400 Target By Year-End

Further to my Market Forecast For 2017, the S&P 500 Index is on track to meet, or even overshoot, its potential target of 2400 by the end of 2017.

As noted on the Monthly chart of the SPX below, price has less than 50 points to go. Bullish sentiment remains strong, and, as of Friday's close, is confirmed by a higher swing high on the Momentum indicator, as shown on the Monthly SPX:VIX ratio chart below.

Monthly SPX chart

Monthly SPX:VIX Ratio chart