S&P 500 Price Forecast – Stock Markets Reach All-Time High Yet Again

The S&P 500 has gone back and forth during the course of the trading session on Monday, as the markets are simply looking for some type of catalyst to get moving. Nonetheless, we are still very bullish, and it does not look very likely that any selloff has momentum. At this point, as long we can stay above the 4200 level, I think there is plenty of support, especially as the 50 day EMA is walking right along the uptrend line. If we break down below the uptrend line, then we go looking towards the 4000 level where there is a gap.

S&P 500 Video 29.06.21

All things been equal, this is a market that I think will continue to see plenty of buyers underneath, and it is likely that we will see more than enough buyers to keep the market in an uptrend. Having said that, if we were to break down below the 4000 handle, then it is possible that we could have an opportunity to buy puts, but that is about as bearish as I would get in this market. Keep in mind that the 200 day EMA is currently at the 3855 handle, which of course is an area that will attract a lot of attention as well.

I think it could be very choppy to say the least, but all things being equal I think that we will eventually go looking towards the 4400 level, as the market does tend to move in 200 point increments. The Federal Reserve will also do everything it can to lift the markets, so I think it is only a matter of time before we reach that level.

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