WEEKLY FORECAST FOR S&P 500: MARCH 10-14, 2014

S&P 500 index got to historical maximums this week and reached 1888 points on Friday.

Labor market statistics slowed down stock market growth in the USA.

According to the US Department of Labor, 175 thousand new jobs were created in February, which surpassed experts? expectations (forecast was 149 thousand jobs).



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Market participants received weak data from ADP in the middle of the week. According to the ADP report, American economy created 139 thousand jobs only, while a forecast was 160 thousand.

Weak data from the labor market made traders think that FED will make a break in cutting down the QE3 program.
However, strong market data received on Friday can lead to the significant correction of S&P 500 positions.

We think that S&P 500 will start correcting next week.

Technical indicators are in the oversold zone. Bearish divergence shows that an upwards trend slows down. The nearest downwards target is located at 1867 points. If bulls are unable to secure their positions above this level, then 1855, 1845 and 1830 points will become new technical correction targets.



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S&P 500 can continue growing after the technical correction. Nearest upwards targets are located at 1885, 1900 and 1920.

This information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.

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