S&P 500 Price Forecast – Markets Quiet Heading Into the Weekend

The S&P 500 has gone back and forth during the trading session on Friday as we ended the week with a bit of a whimper. The market was a bit volatile during the trading session on Friday, but at the end of the day it is simply going sideways. The 4700 level of course has offered quite a bit of interest, as we are sitting just above it.

If we can break above the top of the candlestick for the Friday session, it is likely that we could go looking towards the 4800 level rather quickly. At this point, the market looks as if it is going to continue to see a “buy on the dips” behavior, so ultimately the market will probably find buyers at multiple levels, including not only the 4700 level, but also the 4600 level where the 50 day EMA currently looks as if it is trying to reach.

S&P 500 Video 22.11.21

I do believe that the S&P 500 will continue to see a lot of momentum due to the “Santa Claus rally” that happens at the end of the year, as money managers try to make up for missed opportunities. After all, they have clients that they need to show decent returns to. The market continues to see a lot of upward pressure overall, so I just do not have a scenario where I would be selling anytime soon. In fact, I think this is a market that has much further to go, at least until the end of the year.

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