S&P 500 Daily Forecast Jul 01 2014

The S&P 500 index maintained a bullish momentum yesterday , bottomed at the 1947 levels and topped at the 1956 levels .This development leaves the index targeting the 1965 levels , a halt is likely , but break of the 1965 levels would open 1975 next , further upside will aim the 1988 levels.

On the downside , support comes at the 1947 levels (main) , losing this level on a daily closing basis will reverse risks towards the 1936/1924 levels before the next possible rise …

In all , as long as support 1947  holds on a daily closing basis ,outlook in S&P 500 index remains on the upside towards 1965  levels ahead of the 1975  levels , losing the 1947 levels on a daily basis will reverse risks towards the 1936/1924 levels..

Note that a daily closing above the key resistance 1956 , will make 1956 serve as strong support……

 

S&P 500 Daily Forecast Jul 01 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS