S&P 500 forecast for the week of August 24, 2015, Technical Analysis

The S&P 500 fell hard during the course of the week, crashing into the 2000 handle. This is an area that should be rather supportive though, so having said that, we feel that supportive candles are buying opportunities as is market should then reach towards the 2040 handle, and perhaps back towards the high again. With this, we feel that there’s no way to sell this market quite yet, as it would be chasing the trade. Ultimately, we think that a lack of volume probably has a lot to do with what is happening at the moment.