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.
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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.
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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.
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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. ...
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