Calls for an end to and consequently rising interest rates have been growing ever since the latter part of 2014. Since Jan 2015, the SP500 has been ranging in a fairly narrow range and to be honest, it's getting a bit boring.
D+ has just this month crossed below 20 and is pretty much flat, albeit at a nice high level above 40. A cross below 40 would kind of suck while both D+ and D- are below 20, because it suggests more ranging. I'm hoping (should never do that, I know) for a break of either 2125 or 1967 because that would mean the SP500 might start trending again.
If 1967 breaks, I'll target 1735 as the next strong . To the upside...who knows, just buy if it continues going up through 2125 and use your preferred trailing stop. Don't question why it's going up either, that cost a lot of people a lot of money and missed opportunities since 2009 . Just buy because don't question fundamental logic, that's why! ;)
My thinking is that if the Fed somehow makes it seem as if the interest rate hike gets delayed even further, that would be a nice catalyst for the SP500 to edge even higher.
If they surprise everyone (announce it earlier or hike it more than expected) we might get a very nice spike down very quickly. Personally, I don't think they're as badass as the SNB, so not really expecting taht scenario.
Then again I tend to (almost) ignore fundamentals when taking trades anyway.