S&P 500 Daily Forecast Aug 01 2014

The S&P 500  index maintained a bearish momentum yesterday , topped at the 1965  levels and bottomed at the 1923  levels . This development leaves the index targeting the 1906 levels , a halt is likely , but losing the 1906   levels on a daily basis would open 1885  next , further downside will aim the 1861 levels.

On the upside  , resistance comes at the  1942  levels ahead of 1965 ( main) , stability below this level will keep the pair under pressure , but break of the 1965  levels on a daily basis will recapture the 1985  levels , If this resistance is taken out , expect the pair to gain towards the 2000 levels and possible higher towards the 2020 levels……

In all , as long as resistance 1965  holds on a daily basis ,outlook in  S&P 500 index remains on  the downside towards the 1906  levels , above  1965   levels  will reverse risks towards the  1985/2000  levels….

 

S&P 500 Daily Forecast Aug 01 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS