Stock index S&P 500 is trading at the level of 2398.6. S&P 500 is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an upward trend in the S&P 500. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 2392.0, from which it is expected to try to grow and develop a bullish trend at the stock index near the level of 2419.0.
Technical analysis & forecast S&P 500 on May 25, 2017
Earlier, a medium-strength signal was obtained for the sale of the S&P 500 exchange index, due to crossing of the signal lines at the level of 2385.0. The cancellation of the growth of quotations of the exchange’s index will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 2372.0, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations of the stock index S&P 500 is with the breakdown of the local maximum area at the level of 2414.0.