By Justin Turner CIM, DMS®, CFP®
After taking a breather last
week, the S&P 500 continued moving upwards making new highs along the way.
It got close to 1,900 at one point but quickly fell back down to the 1,880
level. It feels like it’s only a matter of time before we break through
1900 and work our way towards 2,000. The 2,000 mark might be a tough
psychological hurdle and could be a level that ends up very hard to break.
Investors tend to be scared of big round numbers and when it comes to the
S&P 500 they don’t get much bigger or rounder than 2,000. So it
shouldn’t come as a surprise if we end up touching 2,000 later this year but
aren’t able to break through it until 2015 if not later.
On the home front, the TSX keeps
inching higher with its sights set on the 15,000 level. There hasn’t been
much to complain about lately as just about every sector besides gold has
enjoyed nice gains over the past week.
