SPX weekly technical forecast for 13 to 17 june 2016

SPX weekly technical forecast for 13 to 17 june 2016S&P 500 index this week closed at 2096 with loss. After last 3 weeks gains spx sees some profit booking on consolidation.   For next week, above 2075 spx remain buy on dips for targets 2125 and 2155. This week we saw high of 2120 and my target was 2125 which almost hit.   On downside 2090 and 2075 are support zones as well as fresh buying levels for future traders. below 2075 expect trend change and fresh sell signal on chart.   If spx hold 2050 to 2075 zone then expect 2200+ as target zone for this index in medium to long terms.
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Pramod Baviskar

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