This/Next Week Forecast (November 9 - 13, 2020)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3540, which will be followed by reaching resistance level 3705.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 3540, which will be followed by reaching support level 3222.
previous week S&P 500 forecast chart
Fundamental Analysis
Economic recovery shows potential for uptrend to the level 3900, but if due to covid US will go to lockdown, market can drop to 3000.
Monthly Forecast
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 3540, which will be followed by moving up to resistance level 3800 - 3900.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 3540, which will be followed by reaching support level 3191.
