S&P 500 – The Stock Market Continues to See Massive Volatility

The S&P 500 has fluctuated throughout the trading day, indicating that there is still a lot of volatility. The CPI data in the United States were higher than expected, which sent the market into chaos.

Technical Analysis of the S&P 500

After the CPI statistics were released, the S&P 500 went all over the place during trading on Wednesday. They were hotter than expected, so it's understandable that the markets are trying to figure out what to do about it. As a result, we continue to witness a lot of erratic behavior, particularly because the 4100 level above marks the start of a large resistance barrier that will be tough to break and continues to the 4150 level.

Short-term rallies will be marketed into signs of tiredness, and I am more than happy to jump all over it. If we break over the 4150 handle, the next key resistance level is the 4300 level above. There is a lot of noise all the way up to that region, so I don't believe getting it extended will be simple.

Below that, the market is likely to regard the 3900 level as a support level, and we might break down below there and open the market up to the 3800 level. In the end, I believe this is a market where, given enough time, you will continue to see a lot of selling pressure, and purchasers will likely continue to be stymied at every opportunity. I have no intention of purchasing this market in the near future.