S&P 500 Daily Forecast Nov 05 2014

Outlook in S&P 500 index remains on the upside as long as support 1955 holds on a daily closing basis , resistance comes at the 2070 levels , a halt is likely , but a break would open 2140 next , further upside will aim the 2220 levels..

On the downside , support comes at the 1955 levels , losing this level will turn outlook neutral for retesting the 1885/1922  levels before the next rise…

In all, as long as support 1955 holds on a daily closing basis , outlook in S&P 500 index remains on the upside towards the 2016/2070 levels ahead of the 2140 levels, below the 1955 will bring a corrective pullback towards the 1885/1922 levels before the next rise.

Note that a daily closing above the 2016 levels will accelerate the expected bullish move …If seen 2016 will serve as strong support !

 

S&P 500 Daily Forecast Nov 05 2014

 

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