S&P 500 Weekly Price Forecast – Stock Markets Show Signs of Weakness Yet Again

The S&P 500 the S&P 500 rallied a bit during the week, breaking above the 50 week EMA before pulling back. By pulling back the way they have, it’s very likely that the market is ready to continue to see a bit of bearish pressure. Having said that though, the market turning around and breaking above the top of the candlestick would be a very bullish sign as it would show complete turnaround. Having said that, this is a market that is worried about a lot of recessionary headwinds, and it’s likely that we will continue to see stock market suffer as a result. That being said, one would think that there could be a bit more of a bounce, but this is starting to look a lot like a meltdown just waiting to happen.

S&P 500 Video 09.03.20

In the short term, it’s very likely that the market is likely to cause a lot of noise in both directions, but I do think that sooner or later longer-term investors will get involved. I believe that the 200 week EMA could be the target that a lot of longer-term traders will be looking to. The area should offer quite a bit of value for traders, as the market has been so crushed as of late. Unfortunately, the markets are trading more or less on a motion than anything else, and that’s always one of the more difficult things to trade in. Ultimately, the market is one that should be offering value eventually, assuming that the United States stays out of recession.

This article was originally posted on FX Empire


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