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S&P 500 Price Forecast – S&P 500 Breaks Through the 200 Day EMA

Cory Russell

Aug 11, 2022 12:08

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After a CPI number that was lower than expected, the S&P 500 has increased. Wall Street is already operating at full throttle in anticipation of receiving sugar from the Federal Reserve.

Technical Analysis of the S&P 500

During the trading session in the E-mini futures market, the S&P 500 broke above the 200 Day EMA, signaling a strong danger to break out above the 4200 level. If we do, then opens the door to a potential move to the 4300 level, which is something that the momentum makes extremely possible.


Having said that, you must exercise caution since there are several crosscurrents present right now. I believe it will be extremely tough to break above the 4300 level, therefore you must think about volatility through the lens of the VIX.


It would be a really bad indicator and may drive this market back down if we did break down below the candlestick's bottom for the impulsive candlestick that we made on Wednesday. There is little doubt that we are reaching a significant turning point on the charts. The market's immediate response to the CPI statistic was favorable, but the issue now is if it can maintain its upward momentum and surge any more. The next fight may occur around level 4300, in my opinion, since it is more probable than not at this time.


Even though the CPI figure was lower than expected, it is still almost three and a half times what the Federal Reserve likes to see, so prepare for very high volatility. In other words, it will probably only take a short while before someone on the Federal Reserve Board attempts to calm things down.

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