S&P 500 Index to test the key 200-week average now at 3743 – Credit Suisse

S&P 500 strength stays seen as temporary. Analysts at Credit Suisse look for an eventual test of the 200-week average at 3743.“The S&P 500 rebound has been capped at its downtrend from February, and the market could be forming a potential ‘head and shoulders’ top. Strength therefore stays seen as temporary, and we look for an eventual test of the 200-week average at 3743. Below here at any stage would open up a move back to the 3505/3492 lows.

“Above 4078 would be seen to reassert an upward bias for strength back to 4195, possibly even 4312/4325.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

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Source: Loan Digest (loandigest.net)

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