S&P 500 Daily Forecast Apr 08 2014

The S&P 500  index maintained a bearish momentum yesterday , topped at the 1861 levels and bottomed at the 1834 levels . This development leaves the index targeting the 1817 levels , a halt is likely , but losing the 1817  levels on a daily basis would open 1794  next , further downside will aim the 1775 levels.

On the upside  , resistance comes at the  1850 levels ahead of 1861 ( main) , stability below this level will keep the pair under pressure , but break of the 1861  levels on a daily basis will recapture the 1883  levels ahead of the 1892  levels , further upside will aim the 1900 levels.

In all , as long as resistance 1861 holds on a daily basis , the  S&P 500 index will remain based to the downside towards the 1817 levels , above  1861  levels  will reverse risks towards the  1883/1892  levels….

 

S&P 500  Daily Forecast Apr 08 2014

 

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