S&P 500 Weekly Forecast, September 28 - October 2

This/Next Week Forecast
(September 28 - October 2, 2020)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 3267, which will be followed by moving up to resistance level 3419 and if it keeps on moving up above that level, we may expect the market to reach resistance level 3505 - 3586.

Downtrend scenario

The downtrend may be expected to continue from resistance level 3284 or in case the market drops below support level 3191, which will be followed by reaching support level 3010.

previous week S&P 500 forecast chart

Fundamental Analysis

A slowdown in the labor and manufacturing sectors showing a 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

A downtrend will start as soon, as the pair drops below support level 3191, which will be followed by moving down to support level 3011.

chart: S&P 500 technical analysis, market outlook