The S&P 500 fell a bit during the trading session on Monday, drifting down towards the 2900 level. However, I see the 20 EMA underneath offering a little bit of support, while we also have an uptrend line underneath as well. I believe that the market has plenty of uptrend lines underneath as well that should continue to be supportive. Because of this, I think that we could see a bit of noise, and perhaps even a bit of value building on a drift lower. I’m not ready to start selling at this point, but I do recognize that we could go lower from here. One thing is for sure, the market does have a lot to worry about, not the least of which will be the expansion of trade tariffs by the Americans against the Chinese who now are talking about not even sitting down to talk about trade.
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S&P 500 and NASDAQ 100 Forecast September 18, 2018