S&P 500 Price Forecast – S&P 500 Tread Water to Close Out Year

The S&P 500 has rallied ever so slightly during the day on Thursday as we continue to go sideways more than anything else, as we are hanging about and trying to figure out where we are going to go for a bigger move. Quite frankly, I do anticipate that we go higher over the longer term, but now that we are running out of momentum, and perhaps time, it is time to start thinking more along the lines of a short-term pullback to offer a bit of value.

S&P 500 Video 31.12.21

Underneath, the 50 day EMA sits at the 4631 level, and is rising. I think that is going to be your short-term floor the market, assuming that we even go that low. Dips should be thought of as potential buying opportunities, and that will be especially true as we closer to the jobs number on Friday. Once we get to that point in time, we will start to feel a little bit normal when it comes to liquidity issues, and therefore we might get more reliable moves.

The next couple of days will probably continue to be noisy and of noxious, but this is probably going to be necessary in order to work out a lot of the noisy and chunky behavior as we had to the end of the year. Eventually, once the jobs number comes out and we get the green light on growth again, then I fully anticipate that we go looking towards 5000 over the course of spring. Obviously, I do not necessarily think that happens in the short term, but I do recognize that is my longer-term target.

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