Stock index S&P 500 is trading at 2575. S&P 500 is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in the S&P 500. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 2570, from which it is expected to attempt a rebound and development of the bullish trends for the target of growth near the level of 2700. A strong signal was previously obtained for the buy stock index S&P 500, due to crossing of the signal lines at the level of 2565.
S&P 500 forecast & analysis on November 16, 2017
An additional signal in favor of the index’s growth will be a test of the lower border of the bullish channel. 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 2540, 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 a breakdown of the level of 2590.