S&P 500 Index continues in a fairly low volatility bull market – JP Morgan

JP Morgan conveyed overall bullish bias for S&P 500 in its latest strategy report. The US banker cites using technical analysis, also spots risk catalysts, to suggest further advances of the key US equity gauge.

Important lines

The S&P 500 Index continues in a fairly low volatility bull market.

We expect those conditions to dominate the first half of next year, albeit at a slightly lower rate of change.

We suggest using any short- to medium-term periods of risk-off to add to core long exposure.

In our view, the 4430-4465 Sep-Oct pattern breakout and other nearby support levels mark a new floor.

Read: S&P 500: Will rally continue?