S&P 500 Forecast For Tuesday, Nov. 10

Tuesday Forecast

Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 3521, which will be followed by reaching resistance level 3705.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 3521, which will be followed by moving down to support level 3454 and 3397.

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This/Next Week Forecast (November 9 - 13, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3540, which will be followed by reaching resistance level 3705.
Downtrend scenario
The downtrend may be expected to continue, while the market is trading below resistance level 3540, which will be followed by reaching support level 3222.

Previous week S&P 500 forecast chart

Fundamental Analysis

Economic recovery shows potential for uptrend to the level 3900, but if due to the covid US will go to lockdown, the market can drop to 3000.

Monthly Forecast

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 3540, which will be followed by moving up to resistance level 3800 - 3900.
Downtrend scenario
The downtrend may be expected to continue, while the market is trading below resistance level 3540, which will be followed by reaching support level 3191.