S&P 500 Daily Forecast Feb 28


The S&P 500  continued its bullish momentum yesterday, bottomed at the 1832 levels. This development leaves the index targeting the 1888 levels, a halt is suggested, but the break of 1888 levels will turn the focus on the 1930 levels, further out will aim the 1977 levels.

On the downside, main support comes at the 1832 levels, stability above this level will build pressure on the 1888 levels, but losing this level, will weaken the current bullish run and pave the way towards the 1817 levels, below 1817 will look for the 1793 levels , more losses will open the 1758 levels.

In all, as long as support 1832 holds, the S&P 500 index will remain biased to the upside towards the 1888 levels, losing the 1832 levels will reverse risks  1817 levels.

S&P 500 Daily Forecast Feb 28