S&P Update

By September 8, 2013 Market Analysis No Comments

On August 28th S&P made a low of 1627 and since then it is moving up slowly and gradually. S&P closed at 1655.17 on Friday, September 6th. The resistance above are 1672 and 1695 and the ultimate resistance of 1709.67 the high made on August 2nd, 2013. Markets have a tendency to change its direction at the start of Fall season. This year the Fall season starts on Sunday, September 22nd. There is a probability that S&P comes close to 1709 by September 20th and falls. If the market falls due to US strike on Syria then S&P could break 1627 and fall to 1595. The year-end target remains 1750 though.

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