S&P500, Monday forecast, January 6

S&P500, Monday forecast, January 6
Uptrend
An uptrend will from support levels 3206 – 3198, which will be followed by moving up to resistance level 3223 and 3241.25.
Downtrend
An downtrend will start as soon, as the pair drops below support level 3198, which will be followed by moving down to support level 3173.50.

Weekly forecast, January 6 – 10
Most important news of this week
Monday: EUR Markit Composite PMI (Dec), USD Markit Composite PMI (Dec)
Tuesday: EUR Core CPI (YoY) (Dec), USD ISM Non-Manufacturing PMI (Dec)
Wednesday: USD ADP Nonfarm Employment Change (Dec)
Thursday: EUR ECB Publishes Account of Monetary Policy Meeting
Friday: USD Average Hourly Earnings (YoY) (Dec), USD Nonfarm Payrolls (Dec), USD Unemployment Rate (Dec)

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 3198, which will be followed by reaching resistance level 3223, 3242 and 3263.50.
Downtrend
An downtrend will start as soon, as the pair drops below support level 3198, which will be followed by moving down to support level 3155.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 3198, which will be followed by reaching resistance level 3263 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 3312.
Downtrend
An downtrend will start as soon, as the pair drops below support level 3198, which will be followed by moving down to support level 3155 and if it keeps on moving down below that level, we may expect the pair to reach support level 3069.