S&P 500 Price Forecast – Markets Grind Away as We Exit 2022

Technical Analysis of the S&P 500

The S&P 500 hasn't changed much throughout Thursday's trading session as we continue to just hover over the 3800 mark. There's no real incentive to be too clever with this and attempt to put on large holdings on the way out the door since this market will be suffering from a lack of liquidity.

Because individuals will be waiting for the jobs figure at the end of the next week before investing money, it's extremely likely that the upcoming few sessions will be very quiet. That is the second important core reason to participate, but obviously not everyone will immediately return to their desks on January 2.

Given that the market seems to favor the downside, I am going to be fading short-term rallies as soon as they start to show indications of weariness in order to profit from any potential swings. I believe that if we can go below the 3800 level, we may reach the 3600 level. On the upside, the 200-Day EMA and the downward moving line are both located close to the 4000 level.

If we can get over all of that, we may be able to climb higher, but I believe it would need a significant mental adjustment. To be very honest, I believe that current market is more of a "fade the rally" sort of scenario. Since we have been descending for some time, I don't anticipate any change in the near future.