SP 500 will reach the 3571 level
Weekly forecast (October 24 – 28, 2022)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 3820, which will be followed by moving up to resistance level 3936.25 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4101.75.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 3772 – 3820, which will be followed by reaching support level 3571.
Previous week forecast
Monthly forecast, October 2022
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 3936, which will be followed by moving up to resistance level 4175.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 3936, which will be followed by reaching support level 3397.50.