S&P 500 Price Forecast – Stock Markets Have a Quiet Wednesday

US Stock Market Forecast Video for 08.12.22

S&P 500 Technical Analysis

The S&P 500 has fallen a bit during the trading session on Wednesday, testing the 50-Day EMA. At this point in time, the market is in a situation where we are going to go back and forth in this overall range and pay close attention to not only the 50-Day EMA, but also the 200-Day MA. Furthermore, we also have to look at the idea that the Federal Reserve has a meeting next week that a lot of people will be paying attention to. Because of this, we could see a lot of noisy behavior over the next couple of days, so if we were to break down below the 50-Day EMA, it’s possible that we could see a move down to the 3800 level.

If we were to turn around and take off to the upside, I anticipate that the 200-Day EMA might be your short-term target, and then possibly that downtrend line. If we can break above the downtrend line, then the S&P 500 E-mini could go ripping to the 4200 level, but ultimately, I think that would take quite a bit of effort. Because of this, this is a situation that you need to be very cautious with and understand that we are probably just going to kick rocks back and forth between now and the FOMC meeting next week.

What’s going to be even more interesting is that liquidity is about to drop significantly. Ultimately, this is a situation that is going to be something that you need to practice caution with, especially as there are so many moving pieces around the world right now. Because of this, I think caution is the better part of valor.

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