Thursday | 18th September 2018

Good Day all my beloved students & steemians. Inside this daily commentary I will share the short-term technical outlook for S&P 500 Index.

  Previous commentary refer here: http://bit.ly/snp500-180918

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S&P 500

There is no change in outlook for U.S. equities since the last update.

In the previous update, it was noted that the S&P 500 Index had resumed its longer-term uptrend from its 2009 low of 665.75 and that this market is poised to surge higher in the weeks to come – at least until the mid-term U.S. Elections on November 6. 

Going forward, a break above last month’s high of 2917.25 has now set the stage for this index to surge higher into fresh record highs. 

In the medium-term, the focus is on the 2975.25 level. If there is another strong closing by month-end, we may see this rally extending into October. 

Over the medium-term, we are likely to see a sustained rally towards 3087.75; possibly into the November elections before any significant correction sets in. 

At any rate, a panic cycle is due in November. In the meantime, this rally is still good till then.