S&P500

US weekly market outlook for September 15-21.

The US market showed new signs of correction as the main US indices closed the trading week with loss. On Monday, September 20, the market decline intensified, the main indices fell by 2%. The reason for the drop is taking profit by huge investors ahead of the Fed's decision tomorrow, September 22. The Fed is due to announce the beginning of the economic support program tapering, now it is $120 billion a month liquidity infusion. The program reduction is likely to start in November-December, and will be at a rate of $15 billion a month until mid 2022.

Weekly indices:

Dow 34580 - 33970 minus 610 pp, or -1.7%

S&P500 4450 - 4350, minus 100 points, or -2%.

NASDAQ 15060 - 14700, minus 360 points, or -2.2%.

Forecast:

Dow range 33750 - 34500

S&P500 range 4300 - 4450

NASDAQ range 14500 - 15000

Conclusion. The market is expecting the Fed's decisions. The market sentiment is corrective, range. A long period of disorderly rises and falls is forecasted.