S&P 500 Forecast October 3, 2014, Technical Analysis

The S&P 500 as you can see fell initially during the session on Thursday, but found enough support at the 1925 level to turn things back around and form a nice-looking hammer. This hammer of course is sitting just below the 1950 level, and if we can break above there we feel that the market will go much higher. That being the case, we believe that the jobs number could be the reason that we go higher. If that happens, we should head towards the 2000 level given enough time. Selling isn’t even a thought.