S&P 500 Index Price Forecast August 22, 2017, Technical Analysis

The S&P 500 has been choppy during the Monday session, but seems to be finding a bit of support at the 2425 region. If we can break above the trading range for the session, it’s likely that we will try to go to the 2450 handle. A break above there should send this market even higher, perhaps reaching towards the 2475 level. A breakdown below the 2400 level census market much lower, and that of course is a possible negative move just waiting to happen. I think that there is a significant amount of volatility just waiting to happen in a market that will be influenced by geopolitical events, the Jackson Hole meeting, the ECB, the Federal Reserve, and of course the US dollar itself.

S&P 500 Video 22.8.17