The S&P 500 fell rather hard to kick off the trading session on Thursday, reaching down to the lows again but I think there is plenty of support at the 2600 level and of course it makes sense that buyers step back in later in the day as we await the jobs figures coming out Friday morning. Because of that, I think you’re probably better off to leave this market alone but we have a couple of major areas to pay attention to that could give us trades going forward. For example, the 2600 level being broken to the downside for any significant amount of time will be a very negative turn of events. Alternately, if we can break above the 50 day exponential moving average, then we could see some bullish pressure. In the meantime, we are simply continuing to bounce around between 2600 on the bottom, and 2825 on the top.
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S&P 500 and NASDAQ 100 Forecast December 7, 2018