S&P 500 Index(SPX) scrambles for support around 3337.00

Denis Joeli Fatiaki Independent Analyst

The S&P 500 index was down two consecutive sessions at the end of last week finishing the last session of the week around 3337.00 support area. The index is more likely to pull back according to the trend and time-based calculation, which predicts its potential future price movements and the time which seems to have started in the last two trading session.

I am expecting to see the index put up an intense fight around the current support area in the next upcoming trading session to push prices back up to 3358.90 price zone. However, if it fails, then prices could continue down to 3303.50 and 3282.50 or even all the way down to 3267.45 and 3248.00 to complete the pullback.

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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