Next Week’s S&P 500 Prediction and Levels to Watch
The most important week of the quarter is finishing up and the markets are...flat!
After Jerome Powell spooked us and the Magnificent 7 didn't deliver the best results (except Amazon, you go girl!) the market still feels stuck.
Perhaps traders were waiting for today's Non Farm Payrolls report, which didn't seem to impress. As of this morning, futures took a swan dive when the number hit. Geronimo!
This is reminiscent of January of 2022, when we had just dusted off all time highs and entered the year ready to party. Well, the lights went out pretty quick when leading companies missed on earnings and data couldn't convince us to keep on dancing.
Here are my S&P 500 predictions for next week…
Back then in Jan 2022, the market went into autopilot for a few days. Then, once the info was digested and SOMEONE finally got spooked, everyone else followed and the following week was a disaster.
I predict by next Tuesday, if the S&P 500 stays above 4870, we will continue to bust into new highs. However, if we start to crack that area, we will have a significant correction into spring time.
Make a note of 4870 and stay tuned next Tuesday for my follow up!
By Mark Sebastian
The market is trading at a new ATH, but strangely volatility remains bid, even as we head into a weekend and are post mega cap tech earnings, FOMC, and Non farm payrolls.
Notice that as we have been climbing in the market (the top candles), volatility (the bottom red line) has been ever so slightly climbing.
This often leads to a blow off the top and then a nasty turnaround.
In the meantime this week, we found safety — and #MuchoDinero — at the end of the day with our Closers.
Mark and I once again booked a fantastic week of closes in this final hour.
Special thanks to Jerome Powell, we had one of our biggest bombshells in January this Wednesday when some members made thousands of dollars!
If you haven’t signed up yet, what are you waiting for?
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See you then!
Always be closing,
Olivia Voz and Mark Sebastian