S&P 500 Price Forecast – Stock Markets Continue to See Downward Pressure

S&P 500 Technical Analysis

The S&P 500 initially tried to rally during the trading session on Tuesday but gave back gains rather quickly. That being said, the market is likely to continue to see a lot of selling pressure every time it does try to rally, and therefore it’s likely that we continue to go lower and try to reach the 3700 level. Ultimately, this is a market that’s been in a downtrend, and I think as long as the Federal Reserve looks to tighten interest rates, the S&P 500 will continue to struggle. Furthermore, inflation is outrageous right now in the United States, and therefore is more likely than not will continue to see fear.

Looking at the chart, I don’t see any reason to be a buyer of the S&P 500, and even though I expected more of a bounce during the day, this just looks like a market that no matter what happens, bad news is going to come and pummel it. Eventually, we could see a significant bear market rally, which tends to be very vicious, but at this point, that’s only going to offer an opportunity to short this market even further.

Ultimately, I’m fading rallies as they occur, but quite frankly we have not had a rally that was big enough for me to do it. This is a market that looks like it’s on the verge of panic, and it appears that Wall Street has finally got through its head that the Federal Reserve is not going to save traders, at least not in the short term.

US Stock Market Forecast Video for 15.06.22

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