S&P 500 Weekly Price Forecast – S&P 500 Has a Bullish Week

S&P 500 Weekly Technical Analysis

The S&P 500 has rallied significantly in the futures market during the course of the week to break above the 4100 level. That being said, there is still quite a bit of noise in this area, as it had been significant support. The market more likely than not will find some selling pressure in this area, but it is worth noting that a very large range. I think we are about to make a serious decision, but I would like to see the 4300 level taken out before it started some type of “buy-and-hold” type of position for me.

On the other hand, if we break down below the bottom of the weekly candlestick, that almost certainly opens up a move down to the 3600 level, and level that I keep hearing a lot of other analysts bring up. Bear markets do tend to have vicious rallies, and that might have been most of what happened this past week. Nonetheless, I think that we are in a situation where the next candlestick will probably be the one that tells us where we are going longer-term.

In the short term, the market will continue to be very noisy, so I think it’s going to be difficult to play this from a longer-term standpoint. Pay close attention to the bond market, because bond yields will have a say as to where we go as well, and therefore it’s likely that you need to keep an eye on both charts. Anticipate a lot of noisy behavior, and position size accordingly as these types of areas tend to cause a lot of noise.

S&P 500 Forecast Video 30.05.22

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