FXEMPIRE
All

S&P 500 Price Forecast – S&P markets grind higher

S&P 500 markets ground a bit higher during the trading session on Friday again, as the bullish pressure continues. Quite frankly, as long as the Federal Reserve is willing to play ball, the stock markets will continue to go higher.
Christopher Lewis
https://www.youtube.com/watch?v=VCPEK2n6nIk

Stock markets have rallied a bit during the trading session on Friday, reaching yet another all-time high. At this point, the market looks as if it is a little bit overextended, but quite frankly any pullback at this point will more than likely find buyers. I would be especially keen to pick up a bit at the 3300 level, and most certainly at the 3200 level underneath which I think is a short-term floor in the market. The 3200 level also has the 50 day EMA approaching it, so it’s likely that will cause support as well.

S&P 500 Video 20.01.20

If we were to break down below that level, it would be very negative obviously, but at the end of the day I think it’s very unlikely to happen in this type of environment. The market breaking down below there probably opens up the door to the 3000 handle, or maybe the 200 day EMA which is slightly above there. Breaking below that level gives up the entire uptrend, and I don’t see that happening anytime soon. The market continues to get reasonable earnings reports, which this time of year tends to be the main focus, but we also have the Federal Reserve out there willing to lift the market as well. As long as interest rates are this low, there really isn’t anywhere else to put your money for most American institutions, so it’s a self-fulfilling prophecy. If the US dollar can lose a bit of value that could help with exports, which would be the last missing piece for, yet another melt up.

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US