S&P 500 Price Forecast – S&P 500 continues to show sluggish behavior on Thursday

The S&P 500 fell initially during the day on Thursday, as we continue to dance around the 2700 level. I believe that this market will continue to struggle a bit, even if we do get a bit of a rally. There is simply far too many things going on in the world right now for stock traders to feel confident, and it appears that people are willing to sell first and ask questions later in these times.

The market breaking above the 2730 level would be a very bullish sign, but in the meantime I think what we are looking to go back and forth, so short-term range bound trading might be the best way to go, but ultimately this is a market that I think will continue to be very noisy, so I would definitely keep the position size small that you are trading. This is a marketplace that is going to move on headlines more than anything else, has fundamentals are all but forgotten.

Trade war talks, and tariffs continue to take center stage, and that is something that is very hard to quantify as a traitor. You either have a relief rally, or some type of panic. In these days, it’s best to trade in short time frames and small positions, or perhaps even better than that, playing the options market. Selling deep out of the money options could be one strategy to employee.

S&P 500 Video 29.06.18