S&P 500 Forecast August 10, 2015, Technical Analysis
The S&P 500 fell during the course of the session on Friday, testing the 2070 level. The markets seem to have a significant amount of support all the way down to the 2050 handle. With that, we are simply waiting for some type of supportive candle in order to get long of this market, as it continues to consolidate in general. We don’t have any interest in selling, because we feel that the markets could turn around at any moment. With that, we are cautiously bullish, but need the signal in order to get involved.