S&P 500 Daily Forecast Dec 11 2014

Outlook in S&P 500 index remains on the downside as long as 2062 resistance holds on a 4 hour closing basis , support comes at the 2032 levels where a cut will open 2020 levels , a halt is likely , but losing this level would open 2000 next , further losses will aim the 1987/1974 levels.

On the upside , resistance comes at the 2062 levels , a clear break above this level will restore the upside momentum , If seen , the pair will recapture the 2078 levels , a halt is likely but a break would open 2090 next , further upside will aim the 2100 levels.

In all , as long as 2062 resistance holds on a 4 hour closing basis , outlook in S&P 500 index remains on the downside towards the 2020/2000 levels , above the 2062 will restore the upside momentum and open 2090/2100 levels…

In the medium term forecast , the pair is bullish as long as 2016 support holds on a weekly closing basis , but resistance comes at the 2071 levels , we might see hesitation or rebound before resuming the uptrend , a clear break above the 2071 levels on a weekly closing basis will open 2140 ahead of 2220 !
S&P 500 Daily Forecast Dec 11 2014

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

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