S&P 500 Forecast September 17, 2012, Technical Analysis

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The S&P 500 Index had a reasonably strong day on Friday after the massively strong one on Thursday. The candle for the session was a shooting star, but we believe this is simply a signal that we may get a pullback, not any type of trend change. In fact, we see the 1440 level as significantly supportive, and also we could see a bit of a melt if the top of this candle get broken out of. Because of this, we are buying supportive candles and the 1400, 1440, and 1480 handles. As for selling, we have absolutely no plans on doing so until we close well south of 1380.


S&P 500 Forecast September 17, 2012, Technical Analysis

S&P 500 Forecast September 17, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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