S&P500, Tuesday Forecast, October 29
Index market has strong uptrend potential as corporate earnings beat expectations and will continue uptrend while trading above the historical high level.
Forecast and technical analysis:
The uptrend may be expected to continue, while the S&P 500 is trading above support level 3024, which will be followed by reaching resistance level 3042 and 3051. A strong downtrend is not expecting today.
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Weekly Forecast, October 28 - November 1
The downtrend may be expected to continue, while the S&P 500 is trading below resistance level 3029.5, which will be followed by reaching support level 3008.5 and if it keeps on moving down below that level, we may expect the S&P 500 to reach support level 2982. An uptrend will start as soon, as the pair rises above resistance level 3029.5, which will be followed by moving up to resistance level 3051.
(Click on image to enlarge)
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