All of the strategists at Zacks recently consulted the office crystal ball in order to give their predictions on how high the S&P 500 would trade during the year.
Like the Magic 8 Ball, that sometimes tells you, “ask again later”, the crystal ball always doesn’t give you a straight answer.
The S&P 500 has risen 8.6% the first two months of 2012. That is its hottest start to a year since 1991.
Where does it go from here?
These are the predictions from the Zacks strategists (from lowest to highest) for the S&P 500 for the “high” on the S&P for the year (but not necessarily where it will finish in December):
Current level: 1370
Lowest prediction: 1420
Majority of strategists were around 1500
Highest prediction: 1575
The bullish prediction of a high of 1575 would be just under the all-time high of 1576 hit in October 2007.
Do you think the S&P 500 will break out to a new high sometime this year as some of us here at Zacks believe?
What does YOUR crystal ball say?
— Zacks Investment Research