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S&P 500 Price Forecast – S&P 500 Breaks Out

Cory Russell

Aug 12, 2022 15:04


Technical Analysis of the S&P 500

The S&P 500 had a little rally during Thursday's trading session to surpass the significant 4200 milestone. The 4200 level has historically served as resistance, therefore the fact that we have broken over it is quite positive. The next significant hurdle in the futures market will be 4300, and I do believe that it's quite likely that we will need to determine whether or not we can beyond it. It would be quite positive if we were to break over the 4300 barrier.


Based on the inflation scenario and the interest rate position in the bond market, the market continues to seem to be hanging about. Due to the current state of chaos, the only thing you can really do is pay careful attention to your position size since no matter what occurs next—especially at the current level of uncertainty—there will be a lot of noisy activity. Furthermore, the Federal Reserve continues to assert that the market is mistaken, therefore there is still a lot of difficulties to be seen in this situation.


A huge wave of selling might begin if we go below the 4100 mark. Alternately, the market would almost probably rocket off to the upside for a greater move if we were to break over the $4300 barrier. From a macroeconomic perspective, there is now no genuine way to discern the equilibrium, thus it is best to exercise prudence rather than bravery.

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