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S&P 500 Price Forecast – Stock Markets Plunge

Cory Russell

Aug 31, 2022 15:16

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Technical Analysis of the S&P 500

The 50-Day EMA provided some little resistance to the S&P 500 throughout the trading session on Tuesday, which caused it to reverse course and begin sliding. In reality, the E-mini contract has broken below the 4000 mark, indicating more downward movement. At the end of the day, this market searches for the 3900 level. A breakdown below that point may provide access to far lower levels.


Keep in mind that the Federal Reserve will undoubtedly tighten things up, which means the market will probably trend downward from here. As long as that holds true, it's probable that stocks will gain as a consequence. I like the notion of short-term rallies evaporating at the first indication of tiredness at this stage. If we attempt to rise, the 200-Day EMA would likely be a significant resistance barrier, but to be really honest, I believe that the market is still seeing a lot of negative.


The 200-Day EMA has to be broken before you can consider any rally seriously. In the end, I believe that this market might decline to the 3600 level, which is a significant level to recover from. The market is still exhibiting a lot of noisy activity, which is usually unfavorable for markets. Of course, the candlestick is quite shabby, and as I've already said, the kind of candlestick from Friday is one that seldom ever occurs in a vacuum. As a result, the concept of fading short-term rallies is probably still the best course of action moving ahead.

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