Yahoo Finanza S&P 500 Price Forecast – Stock Markets Continue to Flatten Out
The S&P 500 has been somewhat flat over the last couple of weeks, but it should be noted that we are still rising in value. As the world awaited the statement coming out of the FOMC, the question will be whether or not the Federal Reserve still sees inflation as “transitory”, or if they are starting to become concerned about inflation. It comes down to whether or not they are even “thinking about thinking of tightening.” The reality is that the Federal Reserve will do nothing to sink the stock market, as the game has been played the same way for at least 13 years.
S&P 500 Video 17.06.21
To the downside, the 50 day EMA continues to see a lot of attention paid to it, and it is rising to go towards the 4200 level. The 4200 level has been supportive, but even if we break through all of that I think there is even more support at the 4000 handle, where there is a nice gap that could come into play as far as lifting the market.
To the upside, the market does take off then it is likely that we will eventually go looking towards the 4300, and then eventually the 4400 level as this market does tend to move in 200 point increments. To the downside, if we were to break down below the 4000 handle, then I might be a buyer of puts but there is no way that I would step in front of this market and try to start shorting it, at the very least I want to have my risk laid out ahead of time.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
