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S&P500 - 15 September 2020
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Published on 2020-09-15
A questionable bearish bias is applicable below 3380. Technical score: 0
Testing the change in trend direction level to bullish. The VIX might give us an indication here that the index will start moving upwards. The next couple of days will be crucial. A bearish MACD crossover on the daily time frequency remains applicable. Downside price momentum halted  – supporting a bullish trend direction. Only a confirmed price action above 3380 will reverse the bearish trend direction. Downside target: 3310. See the pivots for additional targets. Upside targets for a break above 3380 will be 3420-80.
•	S&P future is up 0.5% this morning.
•	Asian equities extended gains on Tuesday and the dollar slipped, with investor sentiment supported by Chinese data and optimism about COVID-19 vaccines.
•	Investors will also look to central banks for direction, with the US Federal Reserve starting a two-day policy meeting on Tuesday, the first since unveiling a landmark shift to a more tolerant stance on inflation in August. The Bank of Japan and the Bank of England announce their respective policy decisions on Thursday.