S&P 500 Price Forecast March 16, 2018, Technical Analysis

The S&P 500 looks likely to go in one direction or the other after volatility has disappeared, and I’m willing to pay attention to a couple of levels to start trading again. If we can break above the 2775 handle, the market should then slam into the 2800 level above. If we can break above there, the market then goes even higher, perhaps reaching towards 2825 next. I think that the market will eventually see more people jump in above the 2800 level, as it would be clearing a major barrier.

S&P 500 Video 16.03.18

On the other side of the token, if we were to break down below the 2735 handle, it’s likely that we could go down to the 2700 level after that, which should be supportive as it is a large, round, psychologically significant number. If we break down below there, then we would go to 2650. I think this pair is going to be rather noisy, and because of this you should start any position with a small amount, as we could see sudden moves due to geopolitical concerns, perhaps a lack of interest, or perhaps even just a lack of overall clarity.

The market continues to be very noisy overall, as we have a lot of things to concern the markets in general. I think that the Federal Reserve and where it’s going as far as interest rates could also cause issues, but at this point I am thinking that perhaps we are in a “wait-and-see” mode.

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