S&P 500 Index (SP500)

[DiscoverGold]

Amateur Investors: Weekend Analysis

* January 24, 2015

Overall the key upside resistance level to watch next week remains at 2071 which is the 78.6% Retrace from 2094 to 1988.



If the S&P 500 rises above 2071 then we have to assume it will eventually make a new high with a possible target near 2140. 2140 is the 161.8% Extension level calculated from the 2007 high of 1576 to the 2009 low of 667.



Meanwhile if the S&P 500 fails to rise above the 2071 level then support remains around the 2000 level which is along the 125 Day Moving Average and small upward trend line (black).



http://www.amateur-investor.net/AII_Weekend_AnalysisJan_24_15.htm

George.

Click on "In reply to", for Authors past commentaries.