S&P 500 Price Forecast – S&P 500 kicks off the week with bearish tone

The S&P 500 continues to look a bit shaky as we are close to all-time highs, but at the same time we have to worry about the US/China trade war. As long as that’s the case, I think that the markets will continue to struggle overall, and therefore gains will be held on for just a short amount of time. Ultimately, I believe that this market will go looking towards newer highs, but we need is some reason to rally. I think that what we are seeing during Monday is some traders realizing that the situation is getting worse, not better between the Americans and the Chinese. While this doesn’t have a major effect on things right this moment, it certainly will down the road.

I’m not willing to say that we see in the top of the market this year, I think we will still try to go looking towards the 3000 handle, but clearly it’s going to be like walking through mud from here on out. Rallies will happen, but they will only happen for brief spurts, followed by the general malaise that we see during the day on Monday. Overall, I think that this market probably struggles to find stability and certainty, so keep your trade short term, and pay attention to the large figures such as the 2900 level underneath that will be crucial. The gap above the 2930 level will also be important as resistance.

S&P 500 Video 25.09.18