Stock index S&P 500 is trading at the level of 2381.3. S&P 500 is trading within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the S&P 500. Exit of the stock index quotes from the Ichimoku Kinko Hyo Cloud zone near the level of 2373.0 is expected, followed by the test of the lower boundary of the Ichimoku Kinko Hyo Cloud near the level 2385.0, Attempt to fall and develop a bearish trend on the Stock index S&P 500 near the level 2340.0.
S&P 500 forecast & analysis on May 23, 2017
Earlier, a medium-strength signal was obtained for the sale of the Stock index S&P 500, due to crossing of the signal lines at the level of 2385.0. Canceling the variant of falling quotations of the stock index will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations above the area of 2385.0, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations of the Stock index S&P 500 is with the breakdown of the local minimum area at the level 2349.0.
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