S&P 500 Forecast: Rallies to Continue the ConsolidationSubscribeWe commit to never sharing or selling your personal information
Yes, there is almost always some type of bullish narrative out there, but just because Wall Street desperately needs the Federal Reserve to start loosening monetary policy does not mean it’s going to happen.has rallied a bit during the trading session on Tuesday to show signs of life as we continue to consolidate overall.above could continue to offer significant resistance, not to mention the fact that it is near the 4000 level.
With that being the case, I would not be surprised at all to see a little bit of a pullback, especially as the FOMC Meeting Minutes come out later during the day on Wednesday. That will be the last announcement before we go into the Thanksgiving holiday, which of course will have the underlying index closed for Thursday.Friday will be a shortened trading session, so quite frankly it’s probably something that’s best avoided, although there is still a lot that we can infer from the charts themselves. We are currently between the 50 and the 200-Day EMA, which means that we might be during a bit of a squeeze.
Yes, there is almost always some type of bullish narrative out there, but just because Wall Street desperately needs the Federal Reserve to start loosening monetary policy does not mean it’s going to happen., and that is a much bigger concern to the Federal Reserve than stock prices. In fact, they want to drive down the idea of wealth, meaning that they have no problems whatsoever with the destruction of asset prices.