S&P 500 Price Forecast – 50-Day EMA Continues to Offer Eupport

US Stock Market Forecast Video for 09.12.22

S&P 500 Technical Analysis

The S&P 500 has gone back and forth during the trading session on Thursday, as we continue to hang around the 50-Day EMA. The 50-Day EMA is an indicator that a lot of people will pay attention to, so it’s not a huge surprise to see that we have bounced from here. If we were to break down below the 50-Day EMA, then you need to take a look at the 3900 level. After that, you should also take a look at the 3800 level, an area where we’ve seen a significant amount of support and resistance in the past.

Keep in mind that the Federal Reserve has an interest rate decision next week, and a lot of traders will be taking a look at the statement as to whether or not it gives us a bit of a “heads up” as to where we go next. It should also be noted that tomorrow features the PPI numbers coming out of the United States, so that of course will have a major influence on what happens next.

The market is between the 50-Day EMA and the 200-Day EMA indicators, which of course has a major influence on all kinds of algorithmic systems, as well as technical analysis. In other words, it would not be a huge surprise to see a big move, but it might be driven by that Federal Reserve meeting or maybe even the CPI number. In the meantime, I’m not necessarily looking for anything big here, especially as we are getting relatively close to the end of the year and a lack of liquidity.

For a look at all of today’s economic events, check out our economic calendar.