Technical forecast for S&P 500

Emini S&P Sep13 dived to 1628 but held above 1624 to ensure longs were held. Resistance at 1645/46 with a high for the day possible but be ready to go with a break higher for 1650/51 & a selling opportunity with stops above 1654.

Today’s low is 1639 but below here support at 1635 could hold the downside. However if we continue lower we have good support at last week’s low of 1627/25. Any longs need stops below 1623 as a break keeps the market under pressure for important Fibonacci support & a buying opportunity at 1620/18.