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S&P 500 Forecast April 29, 2016, Technical Analysis

By:
Christopher Lewis
Published: Apr 29, 2016, 05:06 UTC

The S&P 500 fell initially during the course of the session on Thursday, testing the 2080 handle for support, as the markets look like they are trying

S&P 500 Forecast April 29, 2016, Technical Analysis

The S&P 500 fell initially during the course of the session on Thursday, testing the 2080 handle for support, as the markets look like they are trying to break out over the long-term. The 2100 level continues to be an area of interest by traders, so it makes sense that we see volatility in this region. The 2120 level above is the ‘top’ of the range of resistance at this point, and a move above there sends this market into a ‘buy and hold’ phase. The market pulling back should find buyers as well.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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