The Stock index S&P 500 completes the trading week at the level of 2384.1. The S&P 500 is trading above the moving average with a period of 55, indicating a bullish trend for the S&P 500. At the moment, stock market quotes are testing the upper boundary of the Bollinger Bands indicator bars. It is expected to test the average border of the indicator bars near the level of 2365.0, where again we should expect an attempt to continue the growth and development of the bullish trend for the S&P 500 with the first target near the level of 2440.0.
Bollinger Bands forecast S&P 500 for May 1 — 5, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 2330.0. Canceling the option of continuing the growth of the S&P 500 will be a breakdown of the moving average with a period of 55, as well as the lower border of the indicator bars and the closing of the pair’s quotes below the area of 2280.0, which indicates a change in the trend in favor of the bearish S&P 500. In the event of a breakdown of the upper boundary of the indicator bands, Exchange index in the area above the level of 2440.0.