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S&P 500 Price Forecast — Stock Markets Wait for Jackson Hole Results

Alice Wang

Aug 25, 2022 15:20

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Technical Analysis of the S&P 500

During the trading session on Wednesday, the S&P 500 briefly declined, but soon began to rebound. The market seems to be attempting to establish a little short-term basis at this time. Therefore, the Jackson Hole Symposium and of course Jerome Powell's address on Friday are expected to be closely watched by the market.


Currently, we are trading above the 50-day EMA and below the 200-day EMA. Since we are squeezed between these two moving averages, it is possible that we will have an explosive move at some point in the future. In the end, the market is trying to determine if the Federal Reserve will start acting aggressively tight or whether it will keep feeding the Wall Street speculators. Looking at this chart, it is clear that the market will likely remain volatile. It is also important to note that we just had a significant decline, so we may need to take a little break.


The chance of a move down to the 4000 level in the E-mini contract, and maybe much lower, arises if we were to break down below the 50-day EMA. Currently, we are attempting to determine if the market is attempting to enter a period of bull market activity or whether we have just corrected the overall image of a downturn. In all likelihood, the next several days will be quiet until we see how the speech was received. It's also important to keep in mind that Wall Street often makes mistakes on the first day before reversing sharply the next day.

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