S&P 500, ES futures market
Friday forecast, January 17
Uptrend
The uptrend may be expected to continue, while the S&P 500 is trading above support level 3316.75, which will be followed by reaching resistance level 3323.25 and 3330.
Downtrend
A downtrend will start as soon, as the S&P 500 drops below support level 3316.75, which will be followed by moving down to support level 3307.75.
(Click on image to enlarge)
Weekly forecast, January 13 - 17
Most important news of this week
- Monday: -
- Tuesday: US Core CPI (YoY) (Dec)
- Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
- Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
- Friday: EU Core CPI (YoY) (Dec)
Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while the S&P 500 is trading above support level 3287.25, which will be followed by reaching resistance level 3312.
Downtrend
A downtrend will start as soon, as the S&P 500 drops below support level 3261, which will be followed by moving down to support level 3220.
(Click on image to enlarge)
Monthly forecast, January - February
Uptrend
The uptrend may be expected to continue, while the S&P 500 is trading above support level 3198, which will be followed by reaching resistance level 3263 and if it keeps on moving up above that level, we may expect the S&P 500 to reach resistance level 3312.
Downtrend
A downtrend will start as soon, as the S&P 500 drops below support level 3198, which will be followed by moving down to support level 3155 and if it keeps on moving down below that level, we may expect the S&P 500 to reach support level 3069.
(Click on image to enlarge)
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