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What chance for 6k later today for the S+P 500?

There is no doubt the S+P 500 got a boost from the further record gains seen yesterday in the Nasdaq 100, but it was there on its own merits too and the gains were broad-based. The S+P reached a new record high at 5,983.84 and hence within spitting distance of a huge level. That is of course 6,000 and it is perfectly possible the index will have a look at this later today. The index closed last night at a record level of 5,973.10. Despite the falls here in Europe so far this morning, the S+P 500 futures are still in the green and still pricing a higher opening this afternoon. Naturally, that might change, if the European losses deepen, but the fact of the matter is; rotation out of Europe and into the US is still very much in evidence, as indeed it was when first noted here a couple of days back. So, right now it probably does not matter what happens here in Europe and that probably will not dent the US markets. The 6k level is bound to be sticky though and we should expect that profit-taking might kick in around there ahead of the weekend. Meantime, the S+P 500 is currently priced to reopen around 5,977 

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