S&P 500 Price Forecast – Stock Markets Continue to Reach Towards All-Time Highs

The S&P 500 has rallied again during the trading session on Thursday, as we are trying to break out to a fresh, new high yet again. Keep in mind that the S&P 500 is in the midst of earnings season, so we could see a bit of volatility here and there. That should continue to be one of the main drivers, at least in the short term. That being said, I recognize that this is a market that is in a bullish move overall, and therefore we need to see some type of pullback in order to pick up little bits and pieces of value. However, if we break above the all-time highs, then we will simply continue to go even further to the upside.

S&P 500 Video 29.10.21

If we do pull back from here, I think the market has multiple areas that we could be paying attention to. The 4500 level makes quite a bit of sense, just as the 50 day EMA does. Underneath there, then the 4250 level kicks off a major support and perhaps the “bottom and the trend.” Anything below there might be a put buying opportunity, but that is as aggressive as I get. The monster flow of liquidity continues to be a major issue, and therefore you need to pay close attention to the fact that there is no other real alternative to stocks as yields are all but nonexistent at this point in time. The reopening trade continues to push the idea of the S&P 500 much higher, so I do think that we will continue to find plenty of buyers.

For a look at all of today’s economic events, check out our economic calendar.