S&P 500 Price Forecast – Stock Market Struggle on Monday

S&P 500 Technical Analysis

The S&P 500 futures markets initially rallied during the trading session on Monday but gave back gains as we got a bit too close to the 4000 level. Because of this, the market looks as if it is going to struggle to go higher, which does make a lot of sense considering that the Federal Reserve is meeting on Wednesday. It’s not so much whether or not the Federal Reserve will tighten monetary policy, it’s going to be about the statement.

The 4000 level obviously has a lot of psychology attached to it, but it should probably be noted that the 50 Day EMA sits just below. That should offer a little bit of support, but I think it’s more or less soft support at best. The 3950 level is interesting due to the fact that it was a previous resistance barrier, so it does make a certain amount of sense that we could see the market is “market memory” to its advantage. The area should be important, and I do believe that between now and Wednesday it is probably going to take some type of shock to see that area violated with any significance. After all, a lot of people will not want to put too much money to work between now and the Federal Reserve statement.

The next 48 hours a going to be dicey at best, but I do think that it is probably only a matter of time before we get a significant move one way or the other. The trend is still most decidedly negative, but the most recent structure was quite a bit more hopeful.

US Stock Market Forecast Video for 26.07.22

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