S&P 500 Price Forecast – Stock Markets Get Explosive Friday to End the Week

S&P 500 Technical Analysis

The S&P 500 exploded to the upside during the trading session on Friday, as we are threatening the 3900 level. That being said, the market looks as if it is going to continue to find sellers above, especially if we get anywhere near the 50 Day EMA or the 4000 level. In that general vicinity, I would anticipate seeing a bit of a fight, and although this has been a very strong move, the reality is that we are still very much in a bear market, and even though we have seen a nice bounce, it is more than likely only going to be a short-term move.

If we were to break above the 50 Day EMA, then it’s possible that the market could go to the 4200 level above there. If we could break above the 4200 level, then it’s possible that we could start to change things overall, as the market would go much higher. All things being equal, we had recently sold off so drastically that you would anticipate some type of recovery, as markets cannot go in one direction forever.

Nonetheless, I think it is only a matter of time before I will be shorting this market again, and in the meantime, I will simply stand on the sidelines and wait for an opportunity. This is a market that has been decimated, so sooner or later you would think that people would be looking for a reason to make a profit, or perhaps even try to play some type of “value play.” That being said, the economic situation is still very dire.

US Stock Market Forecast Video for 27.06.22

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