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Stock Markets Continue to Dance Around a Consolidation Range

Cory Russell

Jul 19, 2022 15:20

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Technical Analysis of the S&P 500

As the week began with a gap, S&P 500 futures were slightly positive throughout the trading session on Monday. However, the same resistance barrier was also in play. To put it another way, we are only banging about the same space. Because of this, I believe a pullback is likely just a matter of time, but if we do break out above the 4000 level, it might alter the mood of the market as a whole. It is obvious that the whole trend would alter if we were to break above the 4200 mark, and there would certainly be a lot of positive momentum.


In light of this, I believe we will most likely observe sporadic signs of tiredness in the meantime, but you never know. A significant amount of selling pressure may arise if we were to drop below the 3700 level, which could lead to a fairly ugly collapse that might push the market as low as the 3600 level. I believe that there will likely be significant volatility going forward owing to headlines, expectations for the Federal Reserve, and a variety of other factors. As a result, you should be very careful when choosing the amount of your stake.


Given that, I believe you should pay extra attention to the next ridiculous story since it appears like we are merely operating on fear and hope at the same time. Regardless, the most crucial thing to focus on is the fact that we are in a decline.