S&P 500 Price Forecast – S&P 500 Continues to See Support in Electronic Trading

S&P 500 Technical Analysis

The S&P 500 has rallied slightly during the early hours on Thursday as Americans are away celebrating Independence Day. So, this was all electronic futures trading more than anything else and your CFD broker will show that. Now that being said, I don’t read too much into it other than it’s just a continuation of what we’ve seen over the last couple of days. The big question of course is going to be what happens on Friday.

Friday of course is the Non-farm Payroll numbers and that will have a major influence on where we go at least in the short term. I think any sharp decline here is probably something that’s bought into. We may be heading back into the old bad news is good news scenario because quite frankly, everybody’s waiting to see when the Federal Reserve gets enough bad news to start cutting rates.

It’s the same game we’ve been playing really for like 13-14 years now, but it’s this especially bad here in the last two or so since the Federal Reserve had to start raising rates. Remember, the stock market has nothing to do with the companies involved or even the economy. It’s all about the transfer and transmission of liquidity into the system.

And that comes down to whether or not it’s cheap and easy to borrow money to gamble with. So, we have to play the market we’re dealt with and that’s literally what it’s going to come down to any sharp pullback is a buying opportunity. It’s really difficult to see a situation where the stock market collapses suddenly because quite frankly, it’s had dozens of reasons to do so leading up to this.

For a look at all of today’s economic events, check out our economic calendar.