S&P 500 and NASDAQ 100 Forecast June 18, 2018

The S&P 500 fell significantly during the trading session on Friday but did find enough momentum to turn things around and form a hammer. The hammer of course is a bullish sign, but I see a significant amount of resistance above at the 2800 level. If we can break above that level, obviously that is a very good sign. There are a lot of fears when it comes to global trade right now, so it makes sense that we did get a bit of a dip as the Americans slap tariffs on the Chinese, and the Chinese turn things back around and slap tariffs on America. Donald Trump has also stated that if the Chinese retaliate, so will the Americans. I think it’s only a matter time before that happens. Because of this, I would expect more volatility but there is a clear barrier at 2800 that if we overcome, but it’s a buying opportunity. for more analysis: http://www.dailyforex.com