Technical forecast for S&P 500

SP

S&P Sep13 has unexpectedly beaten resistance at 1633/35 as we now look for the next target of 1647/48 then June highs at 1655/57. This should hold the topside at this stage.

Good support at 1635/34 should hold the downside today but a break lower sees 1630 possibly 1626. Below here very good support at 1620/19 offers a buying opportunity with stops below 1615.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More