Technical Forecast for S&P

S&P back up testing the 1633 target. We are severely overbought & a dip to support at 1619 is possible today. We held just above here yesterday but below here this week look for 1611/08 to exit shorts & try longs with stops below 1604.

 

A break higher in this unstoppable bull run can never be ruled out. All overbought indicators are being ignored at this stage so above 1633 look for 1638, possibly 1644 & 1647/48 this week.