Major US Indices, Forecast for The Week of August 28, 2017, Technical Analysis

S&P 500 The S&P 500 rallied during the week, breaking towards the 2450 handle. It looks as if the uptrend is still intact, and the uptrend line on the chart has me bullish still. That doesn’t mean it can be easy, but it’s likely that the market is going to continue to find buyers underneath … Continue reading Major US Indices, Forecast for The Week of August 28, 2017, Technical Analysis · FX Empire

Christopher Lewis

Updated Sun, Aug 27, 2017, 1:46 AM

S&P 500

The S&P 500 rallied during the week, breaking towards the 2450 handle. It looks as if the uptrend is still intact, and the uptrend line on the chart has me bullish still. That doesn’t mean it can be easy, but it’s likely that the market is going to continue to find buyers underneath as it offers value. We are in a very illiquid time of the year though, so having said that it’s likely that we will continue to see choppiness, but certainly, longer-term traders are bullish based upon this chart. I have no interest in shorting for any real length of time and I believe that the 2400 level underneath should continue to be the “floor”… Read More

Dow Jones 30

The Dow Jones 30 rally during the week, after initially falling. The market looks as if it is going to go looking towards the 2002 thousand level above, and I think that the uptrend should continue. I think that the 21,500 level underneath continues offers support and a market that is most certainly a bullish trend. Even if we got some type a pullback, I’m not willing to sell this market and I believe that it’s only a matter of time before we find buyers underneath that one of the large round numbers that I have marked on the chart… Read More

NASDAQ 100

The NASDAQ 100 went back and forth during the course of the week, forming a slightly positive candle. We are on top of a trend line, so if we can continue to go higher, I think that the market will then break above the 5900 level and reach towards 6000. I am still bullish on this market if we can stay above the uptrend line, but if we were to break down below the 5700 level, I would be a seller… Read More

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