Short Term Trading forex trading links forex trading books market statistics trader values euro and us dollar Shocks Crashing S&P 500 Index: What’s the Next Move?

Friday, 14 October 2011

S&P 500 Index: What’s the Next Move?

The S&P 500 Index, like currencies, is nearing a topical point. A tentative breakout is possible. The next resistance levels are 1230 and 1260. However, the movement would need lots of power to continue.

In fact, it has to face few important resistance lines. First, there is the higher Bollinger Bands. Then, the there are the 100 days MA. Finally, the 200 days MA need to be overcome.

For now, however, the index is still consolidating within a bearish trend. A breakout failure could trigger another bearish movement. The targets could then be 1000 and 850.

Technically, the EUR/USD could test 1.39/1.41. These levels are at the conjunction of various resistance lines. They might hold at first touch.
A breakout failure could take the market back to 1.36, 1.32.
However, a move above 1.4750 will quickly lift the price to 1.49 and eventually to 1.60.

The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed, neither the information presented nor any opinion expressed constitute a solicitation of the purchase or sale of any forex, futures or commodity product. Those individuals acting on this information are responsible for their own actions. Forex, futures and commodity trading may not be suitable for all recipients of this report. The risk of loss in trading forex, futures and options can be substantial. Each investor must consider whether this is a suitable investment. All recommendations are subject to change at any time. Past performance is not a guarantee of future results. Please Note: All performance figures and illustrations were obtained using historical back testing on a computer and are not the results of an actual account. No guarantee is inferred that future performance will be like the results shown. Futures, forex and options trading involve risk. There is a risk of loss in futures, forex and options trading.


PKamp3 said...

How about after today? As I type EUR/USD is 1.377 and the S&P closed at 1200.86. My time frame is long, but do you think it's an attractive short to mid-term entry point?

ProfitsOn said...

Thank you for your post.

I prefer looking for spots where momentum might increase.

Post a Comment