S&P 500: Uptrend expected to continue while it trades above 3804 level
|Thursday Forecast
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3804, which will be followed by reaching resistance level 3817 and 3823.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3804, which will be followed by moving down to support level 3775.
This/Next Week Forecast (January 11 – 15, 2021)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3772, which will be followed by reaching resistance level 3900.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3772, which will be followed by moving down to support level 3669.
Previous week forecast
Fundamental Analysis
Economic recovery shows potential for uptrend to the level 3800 – 3900.
Monthly Forecast, January 2021
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3594, which will be followed by reaching resistance level 3800 – 3900.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3594, which will be followed by moving down to support level 3475 and 3280.
Previous month forecast
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