S&P 500 price forecast – Stock markets break down after disappointing jobs

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The S&P 500 rallied during Friday’s trading session as the number of jobs disappointed. Maybe it’s a play on the idea of ​​the Federal Reserve stepping in and keeping the market afloat. After all, the large amount of quantitative easing should continue to keep traders in a good mood, and therefore continue this general uptrend. Pullbacks at this point should continue to see support near the 4200 level, an area that has been difficult to break out of. Below that we have support across the entire consolidation area which stretches up to the 4100 level.

S&P 500 Video 05.10.21

That being said, now that we are above the 4200 level, I think the S&P 500 is probably looking towards the 4400 level. The 4400 level is my target simply because the market tends to move in 200 point increments, so this is something you should pay special attention to. I have no interest in trying to sell this market short, but at the moment the market continues to see a lot of strength and frankly there is no reason to try and fight this uptrend. overall. In general, there is no sign that we are slowing down, so with that in mind, I think it’s only a matter of time will continue to go even higher. Additionally, the market appears to be trying to move closer to the top of the range and that is of course also very bullish. Seeking value and enjoying it is the plan I use.

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