The S&P 500 Index has all but achieved the 4200 area and with the market seen at its “typical” extreme analysts at Credit Suisse are looking for an interim peak here, reinforced by the poor Volume picture and overextended sentiment readings. 15% above 200-day average currently at 4157 “Below support at 4126/21 is needed to add weight to the view of an interim peak at 4200, as this would mark a near-term top for a fall back to 4068, then 4034/20, where we would then look for a fresh floor. Below though would warn of a more protracted correction lower and a move towards the 63-day average, currently at 3933.” “Big picture, even if correct, our bias would be to view a pullback/correction from 4200 as temporary and corrective, with a clear break in due course seen opening the door to a move to 4260 next, then 4350.” “We can often see 10%-15% above the 200-day average as the upper extreme for the S&P 500, which is where the market currently resides.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US FX Report: No currency manipulators so far – UOB FX Street 2 years The S&P 500 Index has all but achieved the 4200 area and with the market seen at its "typical" extreme analysts at Credit Suisse are looking for an interim peak here, reinforced by the poor Volume picture and overextended sentiment readings. 15% above 200-day average currently at 4157 "Below support at 4126/21 is needed to add weight to the view of an interim peak at 4200, as this would mark a near-term top for a fall back to 4068, then 4034/20, where we would then look for a fresh floor. Below though would warn of a more protracted correction lower… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
