S&P 500 Price Forecast – Is The Stock Market Running Out of Momentum?

S&P 500 Technical Analysis

The S&P 500 has initially tried to shoot the market in the air, and therefore sellers came back in in order to show signs of exhaustion. The 4000 level above should continue to be a major problem for the market from a psychological standpoint, especially as we have rallied so hard in the short term. Furthermore, the market is likely to see a lot of downward pressure due to the fact that we are getting ready to see the Federal Reserve raise interest rates quite drastically, which of course is bad for stock market momentum.

If we were to turn around and break above the 4000 level, then it’s possible that we could go to the 4200 level. The 4200 level is a major area that if we were to overcome it, could be a shot higher. Furthermore, we have the 200 Day EMA coming into the picture as well. All things being equal, I think it’s only a matter of time before we see sellers come in and push this market lower. Ultimately, this is a market that I don’t have any interest in buying, and I think it’s probably only a matter of time before we see further downward pressure and a retest of the 3800 level.

The 50 Day EMA is starting to cause some noise as well, so it is obviously worth paying attention to as well. In general, this is a market that is doing everything it can to continue lower, especially as we are in the midst of earnings season. One would have to assume that it’s only going to take a gentle nudge to make it fall again.

US Stock Market Forecast Video for 22.07.22

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