| ES Technical Analysis: Revisiting the January Forecast https://www.forexlive.com/technical-analysis/e-mini-sp-500-futures-unraveling-the-4400-forecast-and-whats-next/ In this video, I revisit my January forecast for the S&P 500 E-mini futures contract (ES). At the time, I called for a move to the 4400 level, and we are now very close to that level. In this video, I will discuss the factors that have led to this move, and I will also provide some technical analysis on where the market may go from here. Key Points The S&P 500 E-mini futures contract is currently trading near the 4400 level. This is close to the level that I forecast in January. The market has been moving higher due to a number of factors, including: Strong corporate earnings An expectation that the Fed may pause its hikes of in interest rates A weakening dollar I believe that the market has the potential to move higher in the near term. However, there are some risks that could keep the market from reaching my target of 4400. Risks The Federal Reserve could raise interest rates more aggressively than expected. The war in Ukraine could escalate. There could be a sharp sell-off in the stock market. Conclusion Overall, I am bullish on the S&P 500 E-mini futures contract. BUT THIS COULD CHANGE VERY QUICKLY SINCE THIS TECHNICAL JUNCTION AND THE NEXT AREA OF AUGUST 2022 HIGH IS IMPORTANT, SO STAY TUNED TO FOREXLIVE,COM. However, there are some risks that could keep the market from reaching my target of 4400. I will continue to monitor the market and provide updates on my forecast. Disclaimer This video is for educational purposes only. It is not a recommendation to buy or sell any financial instrument. Trading involves risk, and you could lose money. |
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