S&P 500 Price Forecast – stock markets pulled back slightly

The S&P 500 has rallied significantly over the last couple of days, and Wednesday may have been a bit of an overreaction to the Jerome Powell speech, slamming into a major resistance barrier. The 50 day EMA is just above the 2750 level, which of course has but structurally important more than once. Beyond that, we also have to worry about the G 20 meeting, and that of course could have a massive effects on what happens in the stock market next. After all, the United States and China will be meeting on the sidelines, and perhaps talking about the possibility of a trade deal. However, it seems unlikely that anything will come out of this meeting and I think that the markets may have to digest that reality.

S&P 500 Video 30.11.18

However, if we do close above the 50 day EMA on a daily close, then the market could go higher as it would break through a lot of technical resistance. At this point, I think that the market is going to be very erratic and behold to headlines. My advice is to stay out of this market until we see how Friday shakes out, and more importantly the noise that comes out over the weekend be in the headlines and the rumors. S&P markets could be rather difficult to get your head around, because there will be a lot of fake news pumped out on twitter driving the algorithmic systems crazy.