S&P 500 Price Forecast September 27, 2017, Technical Analysis

The S&P 500 had a volatile session on Tuesday, as we continue to dance around the 2500 level. By doing so, it suggests that the market is going to continue to be choppy, as the market awaits several key announcements later this week. I believe that the market continues to buy the dips though, so with this volatility, we get several opportunities to go long over the course of a typical session. I believe that the S&P 500 is trying to form a bit of a base in this region, and thereby offering the ability to go long yet again. It’s obvious that the market doesn’t want to break down yet, and I believe that the 2490 level underneath continues to be a bit of a “floor” in the market. I think that the market will eventually find enough momentum to go higher, but in the short term it’s obviously a market that is struggling to find any long-term momentum. When I look at the hourly charts, it makes a bit of a basing pattern over the last several sessions, and some sort of mutated inverse head and shoulders.

I think that the market will go looking towards the 2510 level, and perhaps even higher than that. Ultimately, this is a market that continues to find plenty of reason to go long, and it seems as if the Americans are the ones picking it up. As soon as the Europeans leave for the evening, it seems as if that’s when the buyers come back. Because of this, Americans have started seeing a pattern where they can simply by after lunch time, and make their money. Because of this, I believe that we will continue to see money flow into the S&P 500, and give us an opportunity to profit.

S&P 500 Video 27.9.17