S&P 500 Price Forecast Marceau a 3, 2018, Technical Analysis

The S&P 500 broke down significantly during trading on Thursday, slicing through the 2700 level. The market is reacting to the concerns of traders about the United States signing tariffs against the Chinese, something that will almost certainly be retaliated against. With this, we become a bit closer to a trade war, and that of course is horrible for equities. Ultimately, I think that the market should continue to be very noisy and react to these headlines, so I think that the trading conditions in this market again to be very difficult, and quite frankly I would step to the side unless of course you are willing to short the S&P 500. If you do so, there are a couple of areas that you should be paying attention to. The 2650 level should be support, and most certainly the 2600 level will be. Alternately, if we do bounce from here and somehow break above the 2730 level, then I think the uptrend could continue, but that will only happen if we get some type of good news involving tariffs.

S&P 500 Video 23.03.18

I anticipate that the market is probably going to be short-term focus, and eventually we will see headlines coming out to push the market in both directions. At this point though, if the Chinese retaliate significantly, it’s likely that the markets will fall rather harshly and rapidly. Overall, this could be a dangerous couple of trading sessions.