Hey,

In this issues we are going over the S&P 500 market and I’m sharing with you what I see is happening.

Check out the video I made for you here:

So as you can see in the video, the S&P 500 market has a pull back into the 1,160 level and that was also the 62% fib level.

The market has bounced and has had a nice run back up.

Now the Sp 500 looks like it will spend some time to the upside because since we have bounced of the the 62% fib level.

Over the next few days , I would expect to see some more up movement but we do have strong resistance at the 1.224 – 1239 and if the market stops at this resistance  level and we do start to see more down side, then this would form a head and shoulder and ALOT more down side is likley to come.

But….

If the market does break above the 1.224 – 1239 level then a strong run to end of the year we are likely to see.

Enjoy the rest of your week.

John Howell

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Tags: S&P 500, Stock Market, stocks, Technical Analysis, trading

Trading and Investing 4U, in preparing this post, did not take into account the investment objectives, financial situation and particular needs of the investor. Before making any decision about the information provided, you must consider the appropriateness of the information having regard to your objectives, financial situation, and needs, and always consult your advisor. Securities and Derivatives have inherent risks and any comments appearing here are general advice only and can involve high risk investment. Trading and Investing 4U has made every effort to ensure the information is accurate, however its accuracy, reliability or completeness is not guaranteed.

Any advice in this post is General Advice only