S&P 200 (AXJO.NDX)

Short term

Investors have paid higher prices over time to buy S&P 200 and the index is in a rising trend channel in the short term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has support at points 7750 and resistance at points 8000. Volume has previously been high at price tops and low at price bottoms. This strengthens the trend. The index is overall assessed as technically slightly positive for the short term.

Recommendation one to six weeks: Weak Positive

Medium term

S&P 200 has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index gave a negative signal from the double top formation by the break down through the support at 8067. Further fall to 7663 or lower is signaled. The index is approacing resistance at 8060 points, which may give a negative reaction. However, a break upwards through 8060 points will be a positive signal. The index is overall assessed as technically negative for the medium long term.

Recommendation one to six months: Negative

Long term

S&P 200 has broken through the floor of a rising trend channel in the long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index gave a negative signal from the double top formation by the break down through the support at 8067. Further fall to 7663 or lower is signaled. The index is approaching support at 7600 points, which may give a positive reaction. However, a break downwards through 7600 points will be a negative signal. Trading volume has increased substantially lately, which may be because of fundamental news. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold