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S&P 500 Forecast January 27, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 22, 2015, 23:00 GMT+00:00

The S&P 500 fell during the session on Friday, just as all indices around the world did. There seems to be fear of the Chinese slowdown, but quite

S&P 500 Forecast January 27, 2014, Technical Analysis

The S&P 500 fell during the session on Friday, just as all indices around the world did. There seems to be fear of the Chinese slowdown, but quite frankly this is a market that has desperately needed some type of significant pullback. This could be the beginning of that, and therefore we will wait to see whether or not the 1770 level hold as support or if it doesn’t. If we do get some type of supportive candle in that region, then we are perfectly capable of buying. However, if we go lower, then we simply wait for supportive candle at 1750 or possibly even lower.

 

S&P 500 Forecast January 27, 2014, Technical Analysis
S&P 500 Forecast January 27, 2014, Technical Analysis

About the Author

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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