Market Overview

Technical Forecast for S&P 500

Technical Forecast for S&P 500


S&P broke 1641/43 resistance but could not reach the next target of 1649/51. If we reach this far today watch for a high for the day & exit longs & try shorts with stops above 1657.


We are overbought short term now so a drift lower over the next day or two is possible. Failure to regain 1641 keeps the market under pressure for 1630/29. This may hold the downside today but a break lower should see 1623, possibly 1617/16 where we look for a low for the day.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas


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