S&P 500 Index Forecast September 28, 2012, Technical Analysis

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The S&P 500 Index rose during the Thursday session as the risk appetite came back into the market. Looking at the cluster directly to the left, it does look as if the 1430 level as hell, and this could have been predicted based upon the three or four days in a row that we hovered right around the lows of the Thursday session.

It looks like the trend is ready to continue to the upside, and as you can see we have been stair stepping all the way up. It doesn’t look like this is going to be any different, and as long as the Federal Reserve is pumping currency into the world markets, it’s hard to believe that asset will fall over time. At this point time, we are more than comfortable buying the SPY ETF and the futures markets as well.

 

S&P 500 Index Forecast September 28, 2012, Technical Analysis

S&P 500 Index Forecast September 28, 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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