"Click on the chart to zoom in."
So far my forecast worked out very well. Pay attention to 1070-1066 for the possible bounce. Next week will be hard to predict, but I think bears would have the upper hand as long as S&P500 stays below 1096. I would give just 30% chance for rally higher, my bullish target would be 1096-1115. To me 1115 is too extreme but we should be open to unusual events. If S&P500 breaks below 1070, I would give 70% chance for continuation of downtrend to 1056-1040.
Here are some important supports and resistances for the S&P500 in the coming week:
R1: 1088
R2: 1090
R3: 1096
S1: 1070
S2: 1056
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