Technical analysis of the S&P 500
The S&P 500 (SPX) was in top form at the start of November and climbed to a new high. Currently, however, you should not expect too big jumps any more. A turning point (high) can be expected around December 1st, which, with or without a new previous high, could initiate a temporary movement impulse up to a support of around 3,550 points. Once there, a positive end to the year can be expected with rising prices in the direction of 3,700 points.
Below 3,500 points, on the other hand, a pronounced impulse movement to below the level of 3,300 points could open up. A slump below that level would again point to a test of support at 3,215 points before the downward momentum would weaken due to the closing of existing short positions.
The S&P 500 (SPX) was in top form at the start of November and climbed to a new high. Currently, however, you should not expect too big jumps any more. A turning point (high) can be expected around December 1st, which, with or without a new previous high, could initiate a temporary movement impulse up to a support of around 3,550 points. Once there, a positive end to the year can be expected with rising prices in the direction of 3,700 points.
Below 3,500 points, on the other hand, a pronounced impulse movement to below the level of 3,300 points could open up. A slump below that level would again point to a test of support at 3,215 points before the downward momentum would weaken due to the closing of existing short positions.