S&P 500 Price Forecast – Stock Markets Quiet On Monday

Stock markets were very quiet during the training session on Monday, as we are basically it all-time highs. The S&P 500 continues to benefit from more of a “risk on” attitude.
Christopher Lewis
S&P 500 Price Forecast - Stock Markets Quiet On Monday

The S&P 500 was relatively quiet during the trading session on Monday, as traders await the next catalyst. At this point, the markets are testing the highs, but quite frankly we are waiting around to see whether or not the US/China trade situation gets any better. It’s likely that the next thing that moves the market will be some type of headline coming out of Twitter or Beijing, but the trade war seems to be the only thing that everybody is paying attention to at this point as the Federal Reserve is stepped on the sidelines.

S&P 500 Video 10.12.19

That being said, markets have been getting used to the idea of the Federal Reserve bailing them out, and therefore it makes quite a bit of sense that we continue to see the idea of markets rallying on bad news as well. After all, new quantitative easing has it been rolled out, as the Federal Reserve looks likely to lift the market anytime it falls. The 50 day EMA has been massive support, and it makes sense that it should continue to be paid attention to as well. The previous ascending triangle measures for a move to the 3200 level, and we have not gotten there yet, but I do think that’s our destination at the very least. Pullbacks will continue to offer buying opportunities, and I have no interest whatsoever in trying to short this market. The 3000 level underneath is a massive floor in this market and should continue to be so as it was such a large, round, psychologically significant figure. Ultimately, you should be looking for value.

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.