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S&P 500 Price Forecast July 4, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jul 4, 2017, 04:45 UTC

The S&P 500 rallied during Monday as traders come back into play and look at strong earnings coming out of the S&P 500 overall. That being the

S & P 500 daily chart, July 04, 2017

The S&P 500 rallied during Monday as traders come back into play and look at strong earnings coming out of the S&P 500 overall. That being the case, I think that pullbacks will be buying opportunities but obviously today we won’t have the markets open as it is Independent Day and the United States. I believe that the 2425 level underneath should offer support, and of course the 2400 level as well. I think the given enough time the market then goes to the 2450 handle above which is massively resistive. Once we break above there, the market should then go towards the 2500 level. I think that the market is going to continue to be choppy, but I still favor the upside, as US stock indices have been very healthy for quite some time, and it should continue to be so.

S&P 500 Video 04.7.17

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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