S&P 500 Price Forecast – Thanksgiving Week Stalemate
US Stock Market Forecast Video for 23.11.22
S&P 500 Technical Analysis
The S&P 500 E-mini contract has been very quiet during the trading session on Tuesday, as we continue to see the market wait for some type of catalyst. We do have the FOMC Meeting Minutes coming out, but quite frankly there has not been much to have people putting money to work. Keep in mind that it is Thanksgiving week in the United States, so this most certainly will have an influence on how the markets behave. A lot of big money will not want to be involved in the market this week, because quite frankly the risk of illiquid moves are too great.
Furthermore, you need to keep in mind that the underlying index will be closed on Thursday and will only have limited trading on Friday. Because of this, I think the later you get into this week, the less likely you are to see real moves. That being said, if there is some type of major news announcement, that could come into the picture.
However, at this point there’s really nothing going on that should make this a market that you should be trading for the next couple of days, with very little out there to move the markets, therefore you would anticipate that the best trading opportunities will almost certainly be in choppy short-term range bound type of trading systems.
Keep in mind that short-term moves can add up over time, but that’s probably as good as this is going to get. Ultimately, this is probably all about next week, and whatever catalyst we have ahead. I suspect that most large firms in America are simply maintaining positions at this point.
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