S&P500 has hit all of our targets since last forecast. We can immediately highlight Resistance 1 (400-402p). We made a fake breakout of the local trend and went up, this is the first significant buys in 20 days of falling, plus we see good volumes.
Now I would not expect any sudden movements, because after such a fall we have to stand a little. While we are below Resistance 1 (400-402p.) all scenarios are short.
I see retest of the resistance but it is unlikely that we will be able to break through with this attempt, but if good buys appear during the Support 1 test and the trend line there is a chance of breaking through in the second time.
If the purchases do not come and we will be pressed to our support then most likely we will see a fall further, the first target will 380p.
Now I would not expect any sudden movements, because after such a fall we have to stand a little. While we are below Resistance 1 (400-402p.) all scenarios are short.
I see retest of the resistance but it is unlikely that we will be able to break through with this attempt, but if good buys appear during the Support 1 test and the trend line there is a chance of breaking through in the second time.
If the purchases do not come and we will be pressed to our support then most likely we will see a fall further, the first target will 380p.
