S&P 500 futures are quiet over the holidays

The S&P 500 drifted a bit lower during Martin Luther King Jr.’s vacation in the US, but we’re currently hanging on the 50-day EMA, so it’s pretty logical that we have nowhere to go. to be . Also, the volume would have been almost non-existent, so really at this point I wouldn’t be reading too much into the daily candlestick. However, I would read a bit into Friday’s candlestick suggesting that we will continue to bring buyers back into this market.

S&P 500 Video 18.01.22

That said, there are a lot of worries about the Federal Reserve and what it will end up doing, but at the end of the day, it’s not a big deal and I think we just continue to trade higher in based on the fact that while the Federal Reserve will tighten, the reality is that it won’t happen overnight, and there’s a significant number of people who think the Federal Reserve won’t be able to tighten. tighten as much as people say. If this must be the case, then many traders try to get ahead of the curve and jump to take advantage.

If we break below the 4600 level, it is possible that we will fall to the 4500 level, but there is a bit of an uptrend line in that general vicinity, so I think that will keep things going.

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Garland K. Long