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The US Stock Markets Continue to Slump

Alina Haynes

Apr 27, 2022 10:07

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Technical Analysis of the S&P 500 

The S&P 500 has fallen quite a bit in the futures market during the trading session, as it appears as though risk appetite will continue to be quite negative. Naturally, this has a negative impact on the S&P 500 futures market, and it appears as though we are about to test the bottom of the most recent selloff. At this moment, the market is also preparing to create the "death cross," which occurs when the 50 Day EMA falls below the 200 Day EMA. While I am not entirely in favor of this signal, I know that it is an area that many people will focus on, and hence may become a self-fulfilling prophecy.

 

The 4100 level beneath has acted as a temporary support barrier, but I believe it is about to be tested again at this time. It's worth noting that during the previous trading session, we formed a massive hammer, implying that there is some support just below. If we were to breach all of that support, the market would descend into a freefall. This would almost likely attract the attention of the majority of people, and perhaps even spark a bit of panic.

 

At that point, the market would very certainly sell off precipitously. To even begin to seem healthy and like it may be an uptrending market, or simply one with a chance of recovery in general, the market would need to break above the 4400 level. At this time, it appears as though we are in grave danger.

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