S&P 500 Forecast August 6, 2015, Technical Analysis
The S&P 500 initially rallied during most of the session on Wednesday, but turned back around at the 2112 level to turn very bearish looking at the end of the day. We ended up forming a massive shooting star, and it suggests that the market has no real conviction one way or the other at the moment. With this, we feel that the markets to be very quiet during the session and we are going to step aside until we get the Nonfarm Payroll numbers coming out of the United States. With this, we are patiently waiting.