S&P 500 Index Forecast September 21, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The S&P 500 Index formed a hammer for the session on Thursday, as traders try to sell the market off but failed. It now looks as if the 1450 level wants to act as somewhat supportive, and we think that this market could go higher as a result.

With the Federal Reserve and its expanding easing, asset prices of most “risk on” assets should continue to rise. The S&P 500 index will be no different, and as such we believe in having a “core position” of the SPY ETF in order to stay long of the market through thick and thin. However, on a break higher and above the highs from last Friday, we would be willing to buy S&P futures as well.

 

S&P 500 Index Forecast September 21, 2012, Technical Analysis

S&P 500 Index Forecast September 21, 2012, Technical Analysis

 

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");