S&P 500 Price Forecast – Stock Markets Await Slew of News

S&P 500 Technical Analysis

The S&P 500 was fairly stable during the day on Wednesday as investors awaited Jerome Powell's speech, the Core PCE numbers, and of course Friday's jobs report. Given that all of this may produce significant volatility, it is not surprising to find that people were taking a brief pause. I think it could make sense at this time for us to ramble around aimlessly looking for a way. I do think the market will move given enough time, and I have a nagging hunch that Jerome Powell might let some people down.

The fabled "Santa Claus rally" that people look forward to each year, however, might advance to the 4100 level and possibly the 4200 level if we were to break past the 4050 level. But if we drop below this mark of 3900, we can suffer a quick collapse in value toward 3800. Keep in mind that there are many moving elements in the world at the moment and that many people are, to put it mildly, genuinely concerned about the outlook for global growth. Despite the fact that everyone is aware of the impending recession, several financial channels are currently claiming the absurdity that the recession "has already been priced in."