S&P 500 Price Forecast – Stock Markets Recover in Same Range


S&P 500 Technical Analysis

The S&P 500 rallied a bit in Thursday’s trading session as we continue to see a lot of volatility. Quite frankly, there’s a severe lack of major macroeconomic announcements, so I think you get a situation where there’s not much to do but speculate. However, it’s also worth noting that we’re in the middle of earnings season, so we might get the occasional shock. Anyway, when I look at the charts from a technical analysis perspective, we are approaching an important resistance barrier, so it should be noted that we may see some sellers returning to this market.

The 3675 level below is a support level that a lot of people would pay close attention to, but if we break below I think we could go down to the 3600 level. I like the look of this chart in brief, but we don’t we’re not there yet. The 50-day EMA continues to be important and is a significant technical hurdle that some people will be paying close attention to, so we’ll have to wait and see how that plays out. If we were to break above this level, that would obviously be a very bullish sign, but it’s hard to see that happening without some type of catalyst. Ultimately, I think that market is fading and we’re basically trying to come up with some sort of wider range to trade. Earnings season will continue to cause headaches and, of course, volatility.

Video of the US stock market forecast for 21.10.22

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