S&P 500 forecast for the week of August 28, 2017, Technical Analysis

The S&P 500 rallied during the week, breaking towards the 2450 handle. It looks as if the uptrend is still intact, and the uptrend line on the chart has me bullish still. That doesn’t mean it can be easy, but it’s likely that the market is going to continue to find buyers underneath as it offers value. We are in a very illiquid time of the year though, so having said that it’s likely that we will continue to see choppiness, but certainly longer-term traders are bullish based upon this chart. I have no interest in shorting for any real length of time and I believe that the 2400 level underneath should continue to be the “floor.”

S&P 500 Video 28.8.17

https://www.youtube.com/watch?v=lIRYrgVhJ