S&P 500 Price Forecast – S&P 500 Quiet

S&P 500 Technical Analysis

The S&P 500 has rallied a bit during the trading session in the early hours of electronic trading, but it does not necessarily inspire confidence. We are simply just sitting here and trying to assess the damage from the previous session. Candlesticks like we had seen on Tuesday almost never happen in a vacuum, and therefore I think any rally at this point in time will have to be treated with suspicion. Traders will probably be looking to get out of bad positions at a better price, so, therefore, I think that there will be plenty of pressure along the way.

If we break below the lows of the candlestick on Tuesday, that could open up a lot of selling pressure, perhaps sending this market down to the 3800 level. If that happens, I anticipate that you’re going to see a bit more panic, as people are starting to take the Federal Reserve seriously again. The problem of course is that somebody on Wall Street will come up with a narrative for retail traders to start buying again, so they can dump their stocks off. That’s exactly what’s been happening because a lot of larger institutions were caught on the wrong side, so they start pushing a narrative to start dumping stocks on the unsuspecting.

At this point, there’s really nothing going on that should lift stocks other than the fact that some people will look at them as “cheap.” The problem with that thinking of course is that things that are cheap quite often get much cheaper. I continue to fade rallies, and do not trust this market any farther than I can throw it.

US Stock Market Forecast Video for 15.09.22

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