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S&P 500 Forecast Update August 23 2021

SPX Aug 23 2021

The S&P is now entering a number of zones which will provide some key resistance and will hopefully propel it downwards towards our long entry point next month.

The trend line it is hovering around at the moment is “unproven” when it comes to upwards resistance but we have watched this line since early May with great interest and you can see how it provided support throughout July and August.

If the S&P 500 breaks through this then 4530 to 4560 certainly look do-able – but not low risk.

S&P 500 Forecast Update August 23 2021
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