S&P 500 Price Forecast – S&P 500 Breaks Out

S&P 500 Technical Analysis

The S&P 500 has rallied a bit during the trading session on Thursday to break above the crucial 4200 level. The 4200 level is an area where we have seen previous resistance, and the fact that we have broken above there is a very bullish sign. The next major barrier is going to be 4300 in the futures market, and I do think that it’s very possible that we will have to figure out whether or not can get above there. If we were to break above the 4300 level, that would be a very bullish side.

The market continues to look very much like it is hanging around based upon the inflation situation, and the interest rate situation in the bond market. Things are very fluid right now, so therefore the only thing that you can truly do is pay close attention to your position size, as we will see a lot of noisy behavior regardless of what happens next, especially as there is so much uncertainty. Furthermore, the Federal Reserve continues to step out and suggest that the market has it wrong, so this is still a scenario where you can see a lot of trouble.

If we break down below the 4100 level, that could open up a massive wave of selling. Alternately, if we were to break above the $4300 level, the market will almost certainly take off to the upside for a bigger move. There is no real way to see the equilibrium at the moment from a macroeconomic standpoint, so caution is the better part of valor.

US Stock Market Forecast Video for 12.08.22

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