S&P 500 Price Forecast June 30, 2017, Technical Analysis

The S&P 500 has sold off drastically during the session on Thursday, after initially going sideways. The Americans absolutely pummeled the index, losing over 20 points. That is a massively negative sign, and it now looks as if we may go looking for the 2400 level. A breakdown below the 2415 level almost certainly means it will happen. The GDP numbers on of America were stronger than anticipated, so that could add to the argument for an interest rate high, and that of course scares stock traders. Ultimately, this is a market that will continue to be very volatile, but I think that the sellers are starting to get involved.

2415

The 2415 level underneath is massively supportive, so breaking down below there is a very negative sign and I think that the 2400 level underneath continues to be important, and if we break down below there, the market should continue to go much lower. Alternately, if we bounce are mere we could go looking for the 2430 level, and then eventually the 2440 handle. The volatility should continue in this market, and I believe that if that’s the case, it could be very difficult to trade. Using non-levered instruments might be the best way to work with the S&P 500, as futures markets will be very expensive and perhaps very difficult. Because of this, the choppiness will be difficult to deal with as the cost involved could be rather drastic and dangerous.

S&P 500 Video 30.6.17