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S&P 500 Price Forecast – Stock Markets Brace for Federal Reserve Action

Skylar Shaw

Nov 03, 2022 16:26

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Technical Analysis of the S&P 500

During the trading session on Wednesday, the S&P 500 E-mini contract first attempted to rise, but gave up gains to decline near the 50-Day EMA. That makes some sense given that traders are getting ready for whatever action the Federal Reserve is poised to take. It's difficult to envision how the Federal Reserve would loosen monetary policy in light of recent economic data, but there are many individuals out there who will cling to whatever story or ray of hope they can find.


The Federal Reserve may decide to scale down its interest rate increases, which would imply that conditions may get a little looser. That's nonsense, to be quite honest, and even if it does, the fact that money is going to be really tight will likely mean that we will continue to see a lot of pessimism. In the end, I do believe that this market is still experiencing a severe bear market, thus selling is likely to be a good option.


Additionally, bear in mind that Friday's employment report will likely cause the market to "get it wrong" the first day with some kind of automatic response. In other words, even if the market rallies in response to the Federal Reserve speech, it would not be the first time that it did so before rolling back over. Simply said, I really don't have any interest in purchasing this market until the basic condition entirely changes. So long as the Federal Reserve doesn't genuinely change course, I have no interest in purchasing this market.

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