S&P 500 Index Forecast September 3, 2012, Technical Analysis

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The S&P 500 index had a relatively positive session on Friday as we bounced off of the 1400 level. This level is significant support, and looks to be one of interest for the buyers. We see even more support just below at the 1380 level, and as such we think overall this pair wants to rise. With this being said, a break above the 1420 level on a daily close is enough to get us to start buying S&P 500 futures. We also would consider it being involved in higher beta play such as financials, but the truth is we think that the futures market will be the easiest way to play this market when we break out as not all sectors will be created equal.

S&P 500 Index Forecast September 3, 2012, Technical Analysis

S&P 500 Index Forecast September 3, 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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