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The next big level beyond 6k worth noting in the S+P 500

The US equity market futures are not yet showing much appetite to back off this afternoon ahead of what is going to be a record opening for the US stock markets today. As noted here earlier the S+P 500 was pressing for a new record high, above 5,878. Well, since then it has priced to opening to as high as 5,925. It is a little off that high right now though, but the Trump win for the White House sure has lit a blue touch paper under the US stock futures. Now much of the current surge today is predicated on the prospect of Trump lowering corporate taxes, from 21%, to 15%. At least that is what he has pledged to do. If he wins Congress that should ensure he will have the support to do that in due course and that is driving stocks. So, with the S+P 500 set to move closer to 6k now, there is a technical level/target that is worth noting. That is at approximately 6,600 and could be a target in the days and weeks ahead. This level represents a long term Fibonacci target of some relative importance. Anyway, something to keep in mind, if the surge in US stocks plays out like it seems to be right now. The S+P 500 is currently priced to reopen around 5,915 

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