S&P 500 Index Forecast September 24, 2012, Technical Analysis
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The S&P 500 index did very little during the session on Friday as the market currently hovers around the 1460 level. The market looks like it’s trying to catch its breath after a significant move higher, and as we have been sideways from the top of the up trending channel, this makes sense.
As long as the Federal Reserve continues to ease its monetary policy, the stock markets in general should do well. The US dollar of course will lose value, and this of course will have people it going into the stock markets and other asset classes in order to protect their wealth. After all, the Treasury markets offer almost no return, and as such money is looking for a place to hide.
We like buying on dips as long as we can stay above the 1400 level, and would of course by a breakout as well which would be a close above the 1460 level.
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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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