S&P 500 Weekly Forecast

This/Next Week Forecast (October 12 - 16, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3397, which will be followed by reaching resistance level 3505 and if it keeps on moving up above that level, we may expect the market to reach resistance level 3586.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3397, which will be followed by moving down to support level 3283.

previous week S&P 500 forecast chart

Fundamental Analysis

Slowdown in labor and manufacturing sectors showing fair price on the level 3000.

Long-Term Forecast
(Quarter III: July - September, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3397, which will be followed by reaching resistance level 3750.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 3191, which will be followed by moving down to support level 3011.