S&P 500 Price Forecast – Stock Markets Threaten to Rise

S&P 500 Technical Analysis

The S&P500 The E-mini contract edged higher during Tuesday’s session as we threaten a 50-day EMA. In doing so, the market seems to be trying to do some sort of breakout, but at the end of the day, I think it’s still a fade the rally situation because we’re in the middle of earnings season, and frankly, the most advice is probably going to be poor at best. Additionally, you should be concerned that the Federal Reserve is reiterating its need to tighten monetary policy, but Wall Street players could spend the next two days trying to get things done before the next Federal Reserve meeting in november.

Either way, I’m looking for signs of exhaustion that I can start to short out, but I haven’t quite had it yet. The market might break above the 50 day EMA but I still think there is a lot of resistance there at 3900 and then again at the 200 day EMA which is just above the 4000 level. Any long way up the daily candlestick will have me looking to sell this market, but right now I think it’s right in the middle of the bear market rally that it’s hard to trade in this type highly volatile market.

Also, it would take very little to cross the wires and split the market again, so I’ll continue to look at it through that prism. Right now I’m just sitting on the sidelines and waiting for an opportunity, which is the best way to trade your market because you get those occasional massive rallies.

Video of the US stock market forecast from 26.10.22

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