S&P 500 Price Forecast August 18, 2017, Technical Analysis

The S&P 500 went sideways initially during the day on Thursday, but then fell to the vital 2450 handle. If we can hold this area, it’s likely that the market should continue to go higher. If we bounce from here, it’s likely that we will continue to rally again. However, if we break down below the 2440 level, I think the market probably goes down to the 2425 level or so. Ultimately, this is a very volatile market, and quite frankly I think that we will continue to see a lot of noise. I believe that the uptrend is still intact if we can stay above the vital 2400 level underneath. We are a long way from there, so I’m not overly concerned, but I do recognize that we may need to cool offer a little while.

S&P 500 Video 18.8.17