US stock markets try to rally


S&P 500 Technical Analysis

The S&P 500 rallied slightly in Thursday’s trading session as we continue to try to rebound significantly. That being said, the market is also reacting to Tesla and its massive gains, which of course has people looking higher. At this point, the 4500 level is an area of ​​significant psychological importance, so pay attention to how the market reacts to it. The market will continue to see a lot of loud behavior over the next few days because, frankly, there is so much uncertainty in the world right now.

It should be noted that the market is trading just above the 50 day EMA and of course the 200 day EMA. That in itself is bullish for some traders to get involved, but at this point I think you need to be careful about your position size more than anything else. Indeed, if we get a sudden shift in sentiment, which seems to be the norm these days, we could see this market break through the lows starting Monday, which would open up a flood of selling.

As things stand, I think we’re trying to build some kind of base model, so it makes sense that we’re giving up only to find buyers again. The market has been very loud lately, and I just don’t see that changing anytime soon. Unfortunately, I find the market continues to cause a lot of concern, so I wouldn’t be looking for clarity any time soon. Keep your position size small until we get some kind of meaningful run.

Video of the US stock market forecast from 22.04.22

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