S&P 500 Price Forecast – Stock markets rally as Chinese paws

The S&P 500, and the greater stock market in general has been manipulated quite masterfully by both Donald Trump and the Chinese government. Ultimately, this is a market that seems to be tightening up, but that makes quite a bit of sense considering that the constriction the price going into the volume coming back next week means that we are trying to wind up the market for the next move. Ultimately, this is a market that will probably be waiting around for the jobs number next Friday to truly kick off the trading season.

S&P 500 Video 30.08.19

All things being equal, there is a lot to digest so I think that between now and then we will simply see the market fade on rallies and rally on pullbacks. You can see that I have a box drawn on the chart, and I think that is going to be the outer bounds of the market between now and then. Beyond that, I also have a couple of temporary trendlines drawn that show exactly how this market is behaving. Even furthermore, the 50 day EMA which is in red and the 200 day EMA which is in blue seems to be offering boundaries as well. Because of this, I think simple back and forth trading continues to work between now and next Friday. Having said all of that, if we were to break above the 2950 handle, the market probably goes to 3000. Alternately, if we break down below 2800 this market probably falls apart and reaches towards the 2750 level.

Please let us know what you think in the comments below