S&P 500 Price Forecast – Stock Markets Likely to Pull Back Toward Support
The S&P 500 initially tried to recover somewhat during Thursday's trading session, but then collapsed quite a bit, especially during the European session. We flattened out a bit when the Americans came on board, but in the end it is likely that we will see how this market hacks and goes back and forth. At this point the market looks a bit heavy and we may need to pull back a little bit towards 3000 to find support again. After all, there are many moving parts right now, but the only thing that got the stock markets going generally was that the Federal Reserve is ready to do anything to save them.
S & P 500 video 06/19/20
As long as the Federal Reserve saves the market, they won't necessarily reflect economic reality. It was difficult for many traders to come to terms with this, as macroeconomic conditions do not justify equity markets trying to hit all-time highs again. However, this is a market we live in, so that's how I see it: We are pulling back towards 3000, but I'm not ready to sell the S&P 500. In fact, I want to keep buying dips. If you ask me for my personal opinion, no, absolutely not - the stock exchange has absolutely nothing to do with being in this general environment. However, the price is essentially the truth, and that's the only thing you need to remember.
In our economic calendar you will find all of today's economic events.
This article was originally published on FX Empire
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