S&P 500 Price Forecast August 25, 2017, Technical Analysis

The S&P 500 initially spiked higher on Thursday, but found the 2450 level to be a bit resistive. Because of this, we turned around to form a rather lackluster daily candle, but I think there is still a significant amount of support underneath. I suspect that the market is waiting on comments from Janet Yellen, as there are concerns about a hawkish Federal Reserve. You should keep in mind that this is a very illiquid time of year, so it doesn’t take much to keep the markets in one direction or the other. We will also turn around almost immediately at the drop of a headline, so I don’t read too much into the session as I think we are simply in a “sit and wait” mode.

S&P 500 Video 25.8.17