The S&P500 has to keep this key technical level, or there are still more troubles

The bulk market is on the brink and "all or nothing" moment is ahead for the markets - or at least that's what an analyst says.

"The S & P500 is in a very nice, beautiful, symmetrical, rhythmic and asymmetrical upward trend," - says analyst Todd Gordon.

After scrutinizing the S & P500 chart, Gordon believes the index is about to rise even more - as long as it really jumps and stays above current levels.

"If the price fails to keep at this level, we will expect a test on the previous bottoms, but if it still holds and breaks, I think the path to the new peaks will be open. " Gordon believes that if the index continues downhill, it can test the levels of about 2 300. But if it fails to bounce back, it predicts a lot of trouble this year.

In terms of market value, Portfolio Manager Erin Gibbs believes the S & P500 can make a new rally within 10% before the year ends.

Gibbs believes growth in profits will be the engine for the next upward move. It predicts that the price and revenue will move up in tandem and thinks the index will be reasonably assessed in a healthy market.

Source: CNBC

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