S&P 500 Price Forecast – Stock Market Continues to Slump

S&P 500 Technical Analysis

The S&P 500 has fallen a bit during the trading session on Thursday, as we continue to see the fallout of the Federal Reserve meeting on Wednesday. As the Federal Reserve is likely to see tightening being the way going forward, it does make quite a bit of sense that we would see the S&P 500 suffer. Furthermore, you have to worry about global recession issues, therefore exports will probably dry up.

Any rally at this point could be a selling opportunity, and therefore the 50-Day EMA above offers a bit of a dynamic resistance barrier. On the other hand, if we were to break down below the bottom of the candlestick for the trading session, then it’s likely that we could go down to the 3600 level. Keep in mind that this is a market that has been very noisy for a while, and even though we had a nice rally over the last several weeks, the reality is that that rally is rather small when compared to the overall trend.

The 3600 level should be massive support, so if we were to break down below there, it’s likely that we could go down to the 3500 level, possibly even the 3400 level. On the other hand, if we were to turn around and take off to the upside, the 3900 level would be a major barrier. If we can clear that level, then it’s likely that we could go to the 4000 level, which is also backed up by the crucial 200-Day EMA. In other words, there are a lot of negative signs on this chart that tells me the sellers will continue to see shorting opportunities.

US Stock Market Forecast Video for 04.11.22

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