US Stock Markets Slump Again

S&P 500 Technical Analysis

The S&P 500 has fallen rather hard in the futures market during the trading session, as it looks like we are going to continue to see a lot of negativity when it comes to risk appetite. This of course has a negative influence on the S&P 500 futures market, and now it looks like we are going to test the bottom of the most recent selloff. The market at this point is also getting ready to form the “death cross”, when the 50 Day EMA breaks down below the 200 Day EMA. While I am not necessarily a proponent of this signal, I recognize that it is an area that a lot of people will focus on, and therefore it could be a bit of a self-fulfilling prophecy.

The 4100 level underneath has been like a short-term support barrier, but at this point, I think it is about to be tested again. It is worth noting that we formed a massive hammer during the previous trading session, which suggests that there is a certain amount of support just below. If we were to break through all of that support, it will be like a freefall just waiting to happen to the market. This would almost certainly catch the attention of almost everyone, and perhaps even cause a bit of a panic.

At that point, the market would then more than likely sell off quite drastically. The market would have to break above the 4400 level to even begin to look healthy and like it could be an up-trending market, or even one with a chance of recovery in general. At this point, it looks like we are in serious trouble.

US Stock Market Forecast Video for 27.04.22

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