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S&P 500 Forecast for the Week of August 14, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Aug 13, 2017, 07:39 GMT+00:00

The S&P 500 initially tried to rally during the week but then fell rather significantly. A lot of this nonsense is due to the noise coming out of the

S & P 500 weekly chart, August 14, 2017

The S&P 500 initially tried to rally during the week but then fell rather significantly. A lot of this nonsense is due to the noise coming out of the United States and North Korea, and quite frankly I think it’s only a matter of time before the buyers come back in due to the value that markets offer on this pullback. Quite frankly, this is a market that continues to find plenty of reasons to rally, and I believe that the 2400 level below should offer a nice floor. It’s not until we break down below there that I would consider selling. I look at these dips as nice buying opportunities in a market that is continuing to show signs of strength every time we pull back.

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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