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S&P 500 Price Forecast – Stock Markets Wait for the Jobs Number

Alice Wang

Oct 09, 2022 14:31

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Technical Analysis of the S&P 500

As we wait for Friday's employment report, the S&P 500 has been relatively calm throughout the trading session on Thursday. This does make sense in a lot of ways since many individuals won't want to take on a lot of risk before this unpredictable number. After all, the Federal Reserve's decision, which is by far the most crucial item to watch out for right now for most traders, will be greatly impacted by the employment report. Given enough time, I do think volatility will persist and many accounts will lose all of their money. I think the market has gone ahead of itself at this point, and any indication that the Federal Reserve may take a hawkish attitude might have serious consequences for the stock market.


When I look at the S&P 500, I see that the market is having trouble staying above the 3800 level on the E-mini contract, which does indicate that some confidence has been eroded. Since there is nothing that should be seen as optimistic right now, I believe that this market will retest its lows. This is only a result of Wall Street speculators believing that the Federal Reserve would step in to save them.


In actuality, the Federal Reserve no longer actively trades the markets, so they have no incentive to attempt to drive it higher. They will keep tightening monetary policy as long as inflation keeps soaring. Keep in mind that for the last 14 years, the stock market's success has mostly been supported by inexpensive money.

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