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Major US Indices Forecast, June 28, 2017, Technical Analysis

By:
Christopher Lewis
Published: Jun 28, 2017, 08:21 UTC

S&P 500 The S&P 500 went sideways initially on Tuesday, but then dipped yet again. However, we continue to find support near the 2430 handle, and

US Indices Forecast

S&P 500

The S&P 500 went sideways initially on Tuesday, but then dipped yet again. However, we continue to find support near the 2430 handle, and the market rallied towards the 2440 handle. I believe if we can break above the top of the range for the day, the market should then reach to the upside. I believe that the market then goes to the 2450 handle above, where we find even more significant resistance. A break above there should send this market towards the 2500 level given enough time, and that of course is my longer-term target. I believe the dips continue to offer value in a market that has been bullish over the longer-term trends… Read More

Dow Jones 30

The Dow Jones 30 fell twice during the day on Tuesday, but continues to find support near the 21,370 level. Ultimately, if we can break out above the top of the range during the session on Tuesday, I believe that the market continues to go to the upside, perhaps reaching towards the 21,500 level. The market then could break out to the upside. Short-term pullbacks continue to be buying opportunities as the market has quite a bit of bullish pressure underneath and of course we have a significant amount of good news coming out of the stock market in general, and that of course sends the market looking for the 21,500 level… Read More

NASDAQ 100

The NASDAQ 100 fell during the day on Tuesday, testing the 5725 level but bouncing slightly. I believe that given enough time the buyers could return to this market as it looks like we are in a bit of an uptrend in general. With this, I think the market then goes looking for the 5850 level. The market continues to find value hunters, and as such I have no interest in shorting, least not until we break well below the 5700 level. Longer-term, I still believe that we are to go hunting for the 6000 level, but of course the 5800 and the 5900 level will be a significant target for traders to be looking for as we have been in an uptrend for some time and of course large round numbers attract a lot of attention… Read More

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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