S&P 500 Price Forecast – S&P 500 drops immediately at Wall Street open

The S&P 500 fell immediately at the open on Monday, losing over 1% almost instantly. The market continues to see a lot of volatility, mainly due to the concerns about the trade war escalating, which it certainly looks as if it well. I believe that this is a short-term move though, because in the end the market does continue to pick up these little bits of panic. I think that the 2700 level will offer a significant “floor” in the market, so if we were to break down below there it would be a very negative turn of events. Because of this, I think that small positions are probably about as good as it gets, and I would be very cautious about putting too much money to work right away.

In fact, I would probably wait until we get some type of support of daily candle to start getting involved again. It appears that Wall Street does not like what’s going on lately, and it’s more than likely going to sell off anything that it can in a bit of fear. However, I would also point out that the selloff as of late hasn’t exactly been a mass panic move, so that of course is a good sign in general. I do think value reappears, but caution is the better part of valor in this market right now.

S&P 500 Video 26.06.18