The stock index S&P 500 completes the trading week near the level of 2918. The index is traded above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an upward trend. As part of the S&P 500 weekly forecast & analysis October 1 — 5, 2018, the Ichimoku Kinko Hyo signal line area test is expected near the level of 2895, from which it is expected to attempt a rebound and continue the development of the bullish trend with a view to growth near the level of 3050.
S&P 500 weekly forecast & analysis October 1 — 5, 2018
An additional signal in favor of the growth of quotations of the index in the current trading week on October 1 — 5, 2018 will be a test of the support area, as well as a rebound from the lower boundary of the rising channel. Previously, a strong signal was received for the S&P 500 stock index buy, due to crossing of the signal lines at the level of 2745.
The cancellation of the growth of quotations of the stock index will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 2780, which will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall. Expect to accelerate the growth of quotations of the stock exchange index S&P 500 is with the breakdown of the upper limit of the model «Triangle» and the closing above the level of 2990.
S&P 500 weekly forecast & analysis October 1 — 5, 2018 suggests an attempt to test the level of the support level near the area of 2895, from which it is expected to rebound and continue the growth of quotations of the index with a potential target near the level of 3050, the cancellation of the growth of quotations will make a strong fall and breakdown of the region 2780, which indicates the continued decline in the S&P 500.