S&P 500 May Start An Uptrend Above Level 3252 To 3291

S&P 500, ES futures market

Monday forecast, January 27

Downtrend

The downtrend may be expected to continue in case the market drops below support level 3237.25, which will be followed by reaching support level 3220.25.

Uptrend

An uptrend will start as soon, as the S&P 500 rises above resistance level 3252, which will be followed by moving up to resistance level 3269, 3275.5 and 3291.

(Click on image to enlarge)

Weekly forecast, January 27 - 31

Most important news of this week

  • Monday: EU German Ifo Business Climate Index (Jan), US New Home Sales (Dec)
  • Tuesday: US Core Durable Goods Orders (MoM) (Dec)
  • Wednesday: US Pending Home Sales (MoM) (Dec), Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
  • Thursday: EU Unemployment Rate (Dec), US GDP (QoQ) (Q4)
  • Friday: EU CPI (YoY) (Jan), GDP (YoY), US Michigan Consumer

Forecast and technical analysis

Downtrend

The downtrend may be expected to continue, while the S&P 500 is trading below resistance level 3261.75, which will be followed by reaching support level 3220.25 and if it keeps on moving down below that level, we may expect the S&P 500 to reach support level 3161.

Uptrend

A downtrend will start as soon, as the S&P 500 drops below support level 3261.75, which will be followed by moving down to support level 3291 - 3301.25.

(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.

1 2
View single page >> |

Disclaimer: All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.