Trading news

S&P 500 market prognosis for 02.07.2015

Overview: the S&P 500 could start a new movement.

Chart1

Weekly chart:

The S&P 500 has suffered considerable setbacks since the last high at 2133.7 points. After the very poor start to the week, the index now appears to be recovering. Thanks to the shortened trading week, a positive weekly candle can remain, providing the go-ahead for a new movement.

Chart2

Daily chart:

Due to the devastating weekly chart and the resulting gap, the upwards trend was unfortunately briefly broken. This renders the market trendless, for the time being. Up until now, the market has been attempting a countermovement, but at approx. 2090.8 points it will hit the 20 location point line from the weekly chart. This may lead to increased interest in selling. If, however, this barrier can be overcome, then the way to the top seems to be free once more.

Chart3

Best regards,

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

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Thursday, 02 Jul, 2015 / 2:00

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