xMac

S&P 500 over the coming weeks

FX:SPX500   S&P 500 index of US listed shares
This is showing a good bearish turn on the weekly chart @ 2128, longer term (weeks/months, not tomorrow!) I am expecting to see it retrace down to the 2000 mark.
Once reached we would need to see what the market has prepared for us a bounce to the upside or a breakthrough towards our second target of mid-1800s.
Getting a bounce at point A would likely see us return to the 2100 area (point B) where we're likely to get an even stronger bearish movement and point C would be our new target.
However, do not rule out a breakthrough to the upside at point B where we should expect to see even higher highs than those of this month (October 2016).

Please bear in mind that this is a longer term forecast and only my view on the market - please trade responsibly and be accountable for your own strategies and trades.
Happy trading and good fortune to all.
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