Major US Indices Forecast, September 25, 2017, Technical Analysis

E-mini S&P 500

December E-mini S&P 500 Index futures closed higher last week, but a late in the week sell-off nearly put it lower for the week. This would have formed a potentially bearish closing price reversal top. As it stands, it may be indicating that the selling is greater than the buying at current price levels

The main trend is up according to the weekly swing chart. A trade through 2507.25 will signal a resumption of the uptrend. A break back below the old top at 2486.25 will indicate the selling is greater than the buying at current price levels and it will trap those investors who went long on the breakout over this price… Read More

E-mini NASDAQ-100

December E-mini NASDAQ-100 Index futures closed lower last week, dragged down by a poor performance in Apple stock. For a third week, the market traded inside the range from the week-ending September 1. This indicates investor indecision and impending volatility. It could also mean the market is going through a transition period from bullish to bearish… Read More

E-mini Dow Jones

December E-mini Dow Jones Index futures hit a new all-time high last week and also posted a record close. The rally was generally supported by the low-interest rate environment although the Fed meeting did reveal a hawkish central bank.

The U.S. Federal Reserve kept interest rates unchanged, but said it would begin reducing its balance sheet in October. It also left open the possibility of a third interest rate hike in December. This news helped drive up banking stocks like Goldman Sachs which underpinned the Dow. Healthcare stocks also rallied late in the week, but gains were limited by a steep decline in Apple… Read More