Can the S&P 500 Index Remain Above 1420 Next Week?

by Jerry Robinson on October 13, 2012 · 0 comments

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JERRY ROBINSON’S MARKET COMMENTARY

Can the S&P 500 Index Remain Above 1420 Next Week?

This week, the major indexes closed their worst five-day period in four months. Stocks are now officially in correction mode after strong and consistent outflows by institutional investors. Next week, stock investors should pay close attention to the key support level of 1420 on the S&P 500 Index. If we close below this level next week, stocks could quicken their decline. However, if stocks hold above this key support level, it will indicate tremendous strength in the markets to continue moving higher. Be advised.

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Jerry Robinson

Investor/Writer at FTMDaily.com

Jerry Robinson is a serial entrepreneur, economist, published author, and conference speaker. In addition, Robinson hosts a weekly radio program entitled Follow the Money Weekly, an hour long radio show dedicated to deciphering the week’s top economic and financial news. Robinson has appeared on numerous TV and radio programs, including FoxNews, to discuss global economic topics. Robinson is also the best-selling author of the book, Bankruptcy of Our Nation: 21 Income Streams, P.A.C.E. Investing, and More (New Leaf Press, 2012) Robinson has spoken on the topics of money and economics around the globe, including the United States, Israel, Turkey, and Greece. He holds a Bachelor’s degree in Economics with Honors from the University of Tulsa. He resides in the beautiful Ozark mountains with his beautiful wife and his newborn son.