Stock index S&P 500 is trading at the level of 2362.4. S&P 500 broke through the Ichimoku Kinko Hyo Cloud and began to trade below its lower limit, indicating a bearish trend in the S&P 500. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 2370.0, from which it is expected to try to fall and develop a bearish trend at the stock index near Level 2335.0.
Technical analysis & forecast S&P 500 on May 19, 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 of the falling quotations of the stock index S&P 500 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 with the breakdown of the local minimum area at the level of 2345.0.
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