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S&P 500 Forecast January 20, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 20, 2017, 02:26 UTC

The S&P 500 went back and forth on Thursday, testing the 2275 level again. Quite frankly, every time this market pull back I think it offers value and

S & P 500 daily chart, January 20, 2016

The S&P 500 went back and forth on Thursday, testing the 2275 level again. Quite frankly, every time this market pull back I think it offers value and I believe that most traders around the world feel the same way. We are in an uptrend, and that should continue to be the case. Once we make a fresh, new high, the market should continue to go much higher. I believe that there is a massive amount of support below at the 2250 level as well, so I am a buyer only in the S&P 500 just as I would be in the other US indices.

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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