U.S. markets closed

  • S&P 500

    4,436.75
    +4.40 (+0.10%)
     

  • Dow 30

    35,264.67
    +162.82 (+0.46%)
     

  • Nasdaq

    14,788.09
    -72.09 (-0.49%)
     

  • Russell 2000

    2,239.36
    +4.55 (+0.20%)
     

  • Crude Oil

    68.49
    +0.20 (+0.29%)
     

  • Gold

    1,730.40
    -1.30 (-0.08%)
     

  • Silver

    23.34
    -0.05 (-0.22%)
     

  • EUR/USD

    1.1727
    -0.0012 (-0.11%)
     

  • 10-Yr Bond

    1.3420
    +0.0250 (+1.90%)
     

  • GBP/USD

    1.3834
    -0.0017 (-0.12%)
     

  • USD/JPY

    110.5570
    +0.2520 (+0.23%)
     

  • BTC-USD

    45,717.39
    -151.59 (-0.33%)
     

  • CMC Crypto 200

    1,126.30
    +883.62 (+364.11%)
     

  • FTSE 100

    7,161.04
    +28.74 (+0.40%)
     

  • Nikkei 225

    27,888.15
    +68.11 (+0.24%)
     

S&P 500 Price Forecast – Stock Markets Continue to Wait for CPI

  • Oops!
    Something went wrong.
    Please try again later.
Christopher Lewis
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

The S&P 500 has gone back and forth during the course of the trading session on Tuesday as we continue to wait and see what is going on with inflation. The CPI numbers come out on Wednesday, and they will give us an idea as to what whether or not interest rates are going to continue to go higher, or if perhaps inflation is held in check. I do not necessarily think that it will change much over the longer term, but we could get a bit of noise in the short term. With that being the case, the market is likely to continue to see volatility, but as the CPI number comes out, any massive selloff will more than likely to being a buying opportunity.

S&P 500 Video 11.08.21

Underneath, we have the 50 day EMA and the uptrend line, both offering a significant amount of support, so I think that any pullback more than likely will see buyers coming into pick up value as we have seen multiple times. For example, somewhere near the 4300 level I expect to see a massive amount of support, but even if we were to break down below there, I think it is only a matter of time before the 4200 level offer support, and then possibly even the 4000 level underneath as it is a large, round, psychologically significant figure and an area that is starting to attract the 200 day EMA. I have no interest in shorting this market in any of those scenarios, but I might be a buyer of puts if I can get them at the right price. Longer-term, I think we go closer to the 4500 level.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

More From FXEMPIRE:

Recommended Stories

  • Gold Price Forecast – Gold Markets Trying to Find Footing

    Gold markets are doing very little during the trading session on Tuesday as the market is more likely than not awaiting the CPI numbers on Wednesday.

  • Silver Price Forecast – Silver Markets Trying to Stabilize

    Silver markets have gone back and forth during the trading session on Tuesday as we await the crucial CPI figures coming out of America on Wednesday.

  • Dow, S&P 500 and Nasdaq rise tepidly to start Tuesday action as investors await Senate vote on infrastructure

    U.S. stocks edged higher Tuesday morning, as investors watched the global spread of the delta variant of the coronavirus that causes COVID-19 and searched for fresh catalysts to keep pushing equities higher. Investors were also awaiting the passage of a infrastructure package by the Senate later in the session. Energy prices , meanwhile, were rebounding from a sharp rout. The Dow Jones Industrial Average rose 0.1% at 35,129, the S&P 500 index advanced 0.1% at 4,436, and the Nasdaq Composite Inde

  • Report: Rockets see Josh Christopher as having Jrue Holiday potential

    As told to Kelly Iko of The Athletic, rookie guard Josh Christopher is studying Jrue Holiday as a potential NBA player to emulate.

  • Bitcoin Breaks Key Resistance as Market Health Improves on Institutional Demand

    "There seems to be a shift in the sentiment in the market compared to a few months back," said hedge fund executive director Ulrik Lykke.

  • 6 Ways to Start Investing With $100 or Less

    Here are six ways you can begin your investment journey with just $100. An emergency fund is a sum of money that you set aside for unexpected life events or expenses like losing your job or suddenly needing a new car. A stock market cycle will include good years or bull markets, bad years or bear markets, and years where it finishes about the same as where it started.

  • Renters: Results from the Zillow Consumer Housing Trends Report 2021

    The 2021 Consumer Housing Trends Report (CHTR) provides a snapshot of what housing consumers are thinking and doing in mid-2021. In this report, we take a deeper look at renters. The post Renters: Results from the Zillow Consumer Housing Trends Report 2021 appeared first on Zillow Research.

  • 10 US Cities Spending Big Money on New Housing Construction

    Nationwide, the housing market remains in something of a frenzy. A waning in new construction in the wake of the Great Recession combined with increased demand during the COVID-19 pandemic has left...

  • US infrastructure plan tightens tax collection on cryptocurrency

    The giant US infrastructure bill that won Senate approval on Tuesday counts on getting some of its funding from cracking down on tax evasion by people profiting off cryptocurrency.

  • Bitcoin Isn’t the Only One Surging on Infrastructure. These Blockchain ETFs Are Too.

    Blockchain funds are much less volatile than crypto and could offer a side door to invest in the industry before any Bitcoin ETF is approved.

  • 5 Growth Stocks With 110% to 393% Upside, According to Wall Street

    Based on the highest price target issued by a Wall Street investment bank or analyst, the following five growth stocks are expected to return 110% to as much as 393% to shareholders. The first rapidly growing stock with abundant upside, at least according to investment firm D.A. Davidson, is cryptocurrency brokerage and ecosystem Coinbase Global (NASDAQ: COIN). If the lofty $650 price target set by D.A. Davidson comes to fruition, Coinbase would deliver gains of 152% to its shareholders, relative to where it closed this past weekend.

  • We're nowhere near end of COVID pandemic, top scientist warns

    Epidemiologist Dr Larry Brilliant said new strains of coronavirus will continue to emerge unless the global population is vaccinated.

  • How Matthew Wolff can earn $1M even without winning Wyndham

    The winner of the Wyndham Championship isn’t the only player who will take home a $1 million prize.

  • 10 Best EV Materials Stocks to Buy

    In this article, we discuss the 10 best EV materials stocks to buy. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best EV Materials Stocks to Buy. The increase in demand for electric vehicles (EVs) around the world over the past few years has also given a […]

  • Warren Buffett Says to Do This One Thing if You Want to Build Wealth

    Warren Buffett, arguably the greatest investor of all time, has amassed a fortune exceeding $100 billion. The business he runs, Berkshire Hathaway, is one of the world's largest corporations today.

  • 10 Energy Stocks that Pay Monthly Dividends

    In this article, we will be taking a look at 10 energy monthly dividend stocks. To skip our detailed analysis of these stocks and the energy sector, you can go directly to see the 5 Energy Stocks that Pay Monthly Dividends. The years 2020 and 2021 have been extremely challenging and transformational for the global […]

  • Six Reasons Why Ethereum Has Intrinsic Value

    Ethereum is now six years old. But in that short time frame since its launch on July 30, 2015, a lot has happened. Ethereum has established itself as the most actively used blockchain network, while its native token, ether, is now the second-largest cryptocurrency by both market capitalization and daily volume. To mark its sixth birthday, we examine six reasons why ethereum has intrinsic value. 1) Smart Contract Capability Ethereum was built as a platform to run programmatic smart contracts and

  • Police officials critical of CPD community team slain officer assigned to

    Chicago Police Officer Ella French was part of a special unit known as "Community Safety Team," but some of the force are critical of the team.

  • The stock market is on a stunning winning streak

    Stocks continue to notch impressive gains. Here is one interesting stat you. need to know.

  • How Curaleaf Beat Expectations for Sales and Earnings

    'We definitely saw a little bit of softness in May and June, with people starting to go out and spend on other areas: travel, hotels, restaurants, and things like that,' says Executive Chairman Boris Jordan.