S&P 500 Price Forecast – stock markets quiet on Friday

The S&P 500 initially fell during the trading session on Friday but turned around to bounce a bit in order to wipe out a lot of the negativity. Quite frankly, this is a market that is probably exhausted, and therefore I don’t think that people will be looking to put a lot of money to work with the headline risk that will be inherent over the weekend.

S&P 500 Video 19.11.18

The Federal Reserve is going to raise interest rates and that does hurt stocks in the long term. I think a lot of people are concerned about that, but we also have the issue of trading talks going on between the United States and China, or more specifically: the fact that they aren’t. There is the possibility of some type of breakthrough in Argentina during the G 20 meetings, but I think at this point we are probably going to be disappointed more than likely. If that’s the case, then I believe it’s only a matter of time before the market sells off again. I think that there’s been far too much in the way of structural damage for massive buying, but if we did clear the 2800 level, then we could go as high as the 2900 level after that. Currently, I believe that the 2600 level is massive support and will take some momentum to break down. If we did do that, then the market could go as low as 2500 in the blink of an eye.

This article was originally posted on FX Empire

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