S&P 500 Price Forecast – Stock Markets Continue to Unravel

S&P 500 Technical Analysis

The S&P 500 has fallen rather hard during the trading session, as it looks like we are going to threaten the lows much quicker than I thought we would. That being said, it looks like we don’t really have much of a bid in the market, and I think we are more likely than not going to continue to see a lot of selling pressure. In fact, we are on the precipice of the bottom falling out, and it could send the S&P 500 to the 3600 level quickly, followed by the 3500 level.

I think rallies continue to get sold into it the very first signs of exhaustion, and that is how I play this market. However, you need to be a bit cautious with these bear markets that behave like this, because they do tend to have vicious rallies that can cause a lot of damage if you are not paying attention. If you are not already short of this market, you are better off waiting for some type of bounce and exhaustion, perhaps over the course of several days.

If you get that opportunity, it should be a great shorting set up. As far as buying is concerned, the only thing that would have to change is that we would have to see potential global growth, the Federal Reserve change its overall attitude, and the US dollar start falling hard. In other words, it’s not going to change for anything more than a short-term trade. The fact that we are at the very bottom of the range and continue plunging is not a good look at all and I think we have further to go.

US Stock Market Forecast Video for 26.09.22

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