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US Stock Markets Continue to Get Hammered

Skylar Shaw

Apr 26, 2022 10:51


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S&P 500 Technical Analysis

The S&P 500 has dropped down to about 4200 points. The market may fall considerably lower, but we're a touch overextended right now, so a comeback makes sense. As a result, I am more than happy to jump all over a bounce, especially because there is still a lot of pessimism. If we break it down even further, the 4100 level is the next possible goal.


The 200 Day EMA is at 4400 and slanting lower on the upswing. I feel the market will struggle to break above that level, therefore if we can break above the 200 Day EMA, we may be able to turn things around. The Federal Reserve, on the other hand, remains quite hawkish, and this will continue to be one of the most important elements to consider.


Finally, this market seems to be in bad shape, so I'm waiting to see if we have a rebound that shows symptoms of tiredness that we may profit from. Traders will continue to be able to get engaged despite signs of weariness after a short-term rebound. In the end, I believe this is a market that is still quite loud but still favors the downside. Markets will not entirely turn around until we break over the 4500 level. Keep in mind that it's all about the Federal Reserve more than anything else.

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