S&P 500 Weekly Forecast

This/Next Week Forecast (October 5 – 9, 2020)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 3397, which will be followed by moving up to resistance level 3505 – 3586.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 3397, which will be followed by reaching support level 3191.

Chart S&P 500 This/Next Week Forecast, Technical Analysis

previous week S&P 500 forecast chart
Chart S&P 500 This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Slowdown in labor and manufacturing sectors showing fair price on the level 3000.

Long-Term Forecast
(Quarter III: July – September, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3397, which will be followed by reaching resistance level 3750.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 3191, which will be followed by moving down to support level 3011.

Chart S&P 500 Forecast 2020, Long-term Outlook, Technical Analysis

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